No plans of withdrawing old ₹ 100 notes, says RBI

Mangalore Today News Network / NDTV

New Delhi, Jan 25, 2021:     The Reserve Bank of India has denied reports that old currency notes will become invalid from March this year. The central bank clarified in a twitter statement that media reports on withdrawal of old series of banknotes of ₹ 5, ₹ 10 and ₹ 100 from circulation were incorrect.

 

The ₹ 1,000 and ₹ 500 currency notes were rendered invalid by demonetisation that took place in the year 2016, but old notes of ₹ 5, ₹ 10 and ₹ 100 have continued as legal tender.

Some recent reports had claimed that the RBI had decided to ban ₹ 5, ₹ 10 and ₹ 100 notes and these would not be acceptable currency from March 2021.

In 2018, the Reserve Bank of India (RBI) had issued new -look currency notes in the denominations of ₹ 10, ₹ 50 and ₹ 200. And in 2019, the RBI had introduced new lavender-coloured ₹ 100 currency notes. It had asserted at the time that all ₹ 100 currency notes issued earlier would also continue to be legal tender.
All banknotes in the denomination of ₹ 100 issued by the RBI in the earlier series will continue to be legal tender," RBI had said then. And following demonetisation in 2016, RBI had introduced the largest legal tender available i.e. ₹ 2000 and ₹ 200.