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Business News/ News / India/  Old notes of 100, 10 and 5 to be demonetised? What the govt has to say
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Old notes of ₹100, 10 and 5 to be demonetised? What the govt has to say

New currency notes of 100 rupees were released by the Reserve Bank of India in 2019

'All banknotes in the denomination of ₹ 100 issued by the RBI in the earlier series will continue to be legal tender,' RBI had said. (Reuters)Premium
'All banknotes in the denomination of 100 issued by the RBI in the earlier series will continue to be legal tender,' RBI had said. (Reuters)

Several reports are doing rounds that the old banknotes of 100, 10 and 5 would be demonetised by March-April. The government's fact-checking unit has termed has debunked the report and said the central bank has not made any such announcements. The Press Information Bureau (PIB) conducted a fact check and termed the report as FAKE. “It is being claimed that hundred, ten and 5 rupee notes will no longer be legal tender from March 21, as per the information given by RBI. This claim is false", the PIB tweeted.

In 2018, the Reserve Bank of India (RBI) had issued new look currency notes in the denominations of 10, 50, and 200.

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New currency notes of 100 rupees were released by the central bank in 2019. The RBI had issued new 100 notes in lavender colour. The new denomination prominently carries the motif of ‘Rani-Ki-Vav’ (The Queen’s Stepwell), a UNESCO World Heritage site in Gujarat. Located in Gujarat’s Patan, the 900-year-old architectural wonder highlights the sanctity of water as it is designed as an inverted temple under the earth’s surface.

"All banknotes in the denomination of 100 issued by the RBI in the earlier series will continue to be legal tender," RBI had said.

On 8 November 2016, in a televised address to the nation, Prime Minister Narendra Modi declared that all 500 and 1,000 notes would no longer be legal tender. The RBI issued new 2,000 and 500 currency notes after the 8 November announcement by Prime Minister Narendra Modi, in which Rs500 and Rs1,000 banknotes were stripped of their status as legal tender. After the demonetisation announcement, 500 and 1,000 currency notes were withdrawn from circulation by RBI.

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Published: 25 Jan 2021, 06:34 AM IST
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