No plans to replace paper currency with plastic notes from June 30, clarifies PIB
New Delhi, June 10
The Government of India, late on Tuesday, dismissed social media reports claiming that the Reserve Bank of India will withdraw all paper currency notes and replace them with plastic notes by the end of this month.
The clarification came after multiple messages circulated across digital platforms, triggering concern among citizens regarding the status of their legal tender. Official sources confirmed that the central bank has issued no such directive, and the existing paper currency will continue to remain in circulation.
The Press Information Bureau (PIB) officially flagged the viral messages as completely baseless, urging the public not to succumb to panic or spread unverified rumors.
PIB Fact Check said on X, "Several social media posts are falsely claiming that RBI will withdraw paper currency notes and replace them with plastic currency notes from June 30, 2026."
The government factual verification handle explicitly stated that the central bank is not executing any transition toward synthetic alternatives.
"This claim is Fake," the PIB Fact Check post stated.
The agency further noted that the banking regulator maintains its current currency structure.
"According to @RBI, there are no plans to withdraw paper currency notes or ic currency notes by June 30, 2026," the post added.
Authorities highlighted that citizens must exercise caution before forwarding sensitive financial news on messaging applications. Misinformation regarding currency withdrawal often leads to unnecessary confusion and anxiety among traders and common citizens.
To prevent the spread of speculative reports, the government advised the public to rely only on official communication channels.
"For authentic information, always refer to the official RBI website: rbi.org.in," the PIB Fact Check handle stated.
The PIB reiterated the importance of cross-checking public advisories during a period where digital rumors easily gain traction.
"Always verify information through official sources before sharing," the statement concluded.
— ANI
Reader Comments
To be fair, plastic notes would make sense in India - last longer, harder to counterfeit during monsoon season when paper notes get soggy. But suddenly transitioning by June 30? That's absurd, especially with so many rural areas dependent on cash. Good that the government stepped in quickly to debunk.
Our currency is already quite durable. This rumor probably got started by some bank trying to sell insurance or investment schemes. Main thing is: RBI knows what they're doing. Plastic notes might come someday but they'll give proper timeline and not rush like demonetization. Yaar, some people have no work...
Honestly, the government should do more to educate rural populations about these fact-checking handles. My grandmother in village panicked after seeing this on her neighbor's phone. PIB does great work but people need to know WHERE to verify. Maybe put QR codes on ATM screens linking to official RBI notifications? Just a thought.
Good to see the Indian government proactively fighting misinformation. In Canada, we already have polymer notes - they work great, last much longer. But I agree, such a massive transition needs careful planning, not rumors. Respect to PIB for the swift clarification! 👏
Main problem is that these rumors keep targeting the poor and small shopkeepers who get scared. Last time with demonetization chaos, many small businesses suffered. Why can't we have some strict punishment for people who create such fake news? These WhatsApp forwards cause real economic disruption. PIB should also put out video clarifications in regional languages.
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.