RBI Denies Message On Currency Notes Circulating On Social Media

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The Reserve Bank of India (RBI) denied having issued a communication circulating on social media alerting members of public that banks will not accept currency notes with scribbling on them from January 1, 2016.

The Reserve Bank has reiterated that all currency notes issued by it are legal tender and banks and members can freely and without fear accept them in exchange for goods and services.

RBI Denies Message On Currency Notes Circulating On Social Media

In a audio release, the RBI governor said "As I understand, one of the topics trending on Whatsappis the statement that at the end of the year notes with writing will not be accepted. This is absolutely false. Those notes continue to be a legal tender,"

"RBI has had the policy in the past of disfigured note being withdrawn from circulation to be replaced by clean notes. That does not mean that they are not legal tender, they can be used everywhere, they can be accepted everywhere. There is no terminal date for acceptance, so please disregard those rumours, they are not correct," he added.

The Reserve Bank has also stated that in pursuance of its clean note policy, it keeps requesting banks and members of public not to write on the currency notes as writing defaces them and reduces their life.


Read more about: rbi, currency
Story first published: Wednesday, December 16, 2015, 11:43 [IST]
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