PIB fact check debunks viral claim about RBI withdrawing paper currency by June 30
The Government of India has dismissed social media claims suggesting that the Reserve Bank of India (Reserve Bank of India) will withdraw all paper currency notes and replace them with plastic notes by June 30, 2026.
Officials clarified that the viral messages circulating across social media platforms are completely false and no such directive has been issued by the central bank. Existing paper currency will continue to remain valid and in circulation.
The Press Information Bureau (Press Information Bureau) Fact Check unit flagged the claims as baseless and urged citizens not to believe or forward unverified information.
In a post on X, PIB Fact Check said several social media messages were falsely claiming that the RBI would phase out paper currency and replace it with plastic notes from June 30, 2026. The agency clearly stated that the claim is fake and misleading.
Authorities emphasized that the Reserve Bank of India has made no announcement regarding withdrawal of paper currency or transition to synthetic currency notes. Officials also warned that such misinformation often spreads unnecessary panic among citizens and traders.
The PIB further advised the public to rely only on official sources, including the RBI’s website, for accurate financial updates and policy announcements.
Officials reiterated that in the digital age, financial rumours can spread quickly, and citizens should always verify such claims before sharing them on messaging platforms or social media.
