RBI Dismisses Rumors About Withdrawal of Old 100 Rupee Notes
In response to viral social media claims, the Reserve Bank of India (RBI) clarifies that old 100 rupee notes remain valid currency.
Jamie Bailey
- 2023-12-28
- Updated 01:22 AM ET
(NewsNibs) - The Reserve Bank of India has recently found itself at the center of widespread misinformation. A claim, which gained traction on various social media platforms, suggested that the RBI had set a deadline of March 31, 2024, for exchanging old 100 rupee notes, indicating that these notes would no longer be legal tender after this date. This claim has been denied outright by the RBI, reassuring the public that old series 100 rupee notes have not been withdrawn.
Denial of Viral Claim
Yogesh Dayal, spokesperson for the RBI, confirmed that the institution has not issued any notification that endorses the viral claim. On visiting the official RBI website, no circular or notification could be found that pertains to the withdrawal of the old 100 rupee notes. The confusion seems to be an unfounded rumor, with no basis in fact.
Clarification on Currency Validity
The RBI has previously issued a circular concerning the withdrawal of 2000 rupee notes, with the public being given until September 30, 2023, to deposit or exchange these notes. In contrast, the older series of 100 rupee notes, as well as the lavender-colored 100 rupee notes introduced in 2018, continue to be valid and in circulation. Furthermore, the RBI clarified that the only notes that were invalidated are the old 500 and 1000 rupee denominations, which were demonetized in 2016. An additional claim regarding the withdrawal of old 10 and 5 rupee notes has also been previously debunked by the RBI.
The RBI's stance remains clear: All 100 rupee notes, along with other denominations other than the specified series of 500 and 1000 rupee notes, continue to be legal tender. The public is advised to rely on official communications and disregard misinformation circulated online.
