The Reserve Bank of India (RBI) said that the Central bank has no such plans and termed the report as ‘fake’.
An RBI spokesperson thrashed such false reports and clarified that they are not planning any such move. However, there is no official confirmation from RBI as of yet on the matter.
With regard to reports in certain sections of media on withdrawal of old series of ₹100, ₹10 & ₹5 banknotes from circulation in near future, it is clarified that such reports are incorrect.
— ReserveBankOfIndia (@RBI) January 25, 2021
It is to be mentioned that reports are doing rounds that the circulation of old currency notes of Rs 100, 10 and 5 would stop permanently by March-April.
As reported by several media publications, Assistant General Manager (AGM) of the Reserve Bank of India (RBI) B Mahesh while speaking at the District Level Security Committee (DLSC) and District Level Currency Management Committee (DLMC) meeting, stated that the old currency notes of Rs 100, Rs 10 and Rs 5 will eventually go out of circulation as RBI plans to withdraw them by March-April.