Indian Rupee Currency Notes: There is widespread speculation across the country that the government is planning to discontinue paper currency notes of ₹100, ₹200, and ₹500 denominations. People are wondering what currency would be used if these paper notes were to be withdrawn. The Reserve Bank of India (RBI) Governor shared significant information regarding this following an MPC meeting.
The RBI Governor had stated that this idea is currently in the preliminary stage. Plastic notes—essentially made of highly durable ‘polymer’—are already in circulation in many countries worldwide. They are superior in terms of security features and durability. Such notes are expected to come into circulation in India in the future as well. While the introduction of plastic notes would eventually replace the paper notes currently in use, the reports claiming an immediate discontinuation are entirely baseless rumours.
PIB clarifies the truth on behalf of the RBI
Misleading posts circulating on social media are citing the RBI as the source. The Press Information Bureau’s (PIB) Fact Check unit has advised the public to remain cautious regarding these misleading claims. The government agency clarified that the viral news about the discontinuation of paper notes is completely fake.
Refuting the viral claim, PIB Fact Check stated, “Some social media posts claim that the RBI is going to withdraw paper notes and issue plastic currency notes in their place starting June 30, 2026.” PIB has dismissed this claim as entirely fake.
According to PIB, the RBI has formulated no such plan. Neither are paper notes being withdrawn, nor has any announcement been made to replace them with plastic notes. PIB has urged the public to verify such information on the official RBI website before believing it.
Know the truth about plastic notes.
Plastic notes may come into circulation in the country in the future. RBI Governor Sanjay Malhotra has stated that the Reserve Bank is considering issuing plastic currency notes in the country; however, no final decision has been taken yet.
There had been numerous reports in the media and on social media regarding preparations for plastic notes, and the Governor acknowledged that there was truth to the reports concerning polymer notes. However, he said, “The Reserve Bank has not yet reached any conclusion. The RBI is currently reviewing the pros and cons.”
He added, “The central bank is assessing whether implementing this in the country would actually prove beneficial. The plan is currently in the initial phase, and information will be provided as soon as a major decision is taken.”