Will RBI Withdraw Paper Notes by June 30? Here’s Fact Check; What RBI Governor Says on Viral Polymer Currency

Recent social media posts have falsely claimed that the Reserve Bank of India (RBI) is planning to withdraw paper currency from circulation by June 30 and replace it entirely with polymer-based notes. These claims quickly went viral, creating confusion among the public.

RBI To Remove Paper Notes By June 30? Here is A Fact Check

However, the central government has clearly denied these rumours and said that no such decision has been taken.

Officials confirmed that all existing paper currency remains fully valid and legal tender in India. People have also been advised to avoid believing or sharing unverified financial news circulating online.

PIB Fact Check on Polymer Note Replacement

To put the rumours to rest, the Press Information Bureau (PIB) issued an official fact-check through its website and social media handles. PIB described the claims as completely baseless and misleading. It also warned citizens against spreading such misinformation, especially content that uses edited visuals or fake videos.

Some of the viral posts had even used manipulated videos of Prime Minister (PM) Narendra Modi to support the false narrative. Authorities stressed that such content can create unnecessary panic among traders, investors and the general public.

Reserve Bank of India Clarifies Plastic Note Plan

At the same time, RBI Governor Sanjay Malhotra also clarified the central bank's stand on the issue. He said that while the RBI is exploring the idea of introducing polymer-based currency notes, the process is still in a very early stage. He clearly stated that no final decision has been taken and there is no timeline fixed for replacing paper currency.

Polymer notes, which are made from plastic-like material instead of traditional paper, are known for being more durable and water-resistant. They also come with advanced security features that make counterfeiting more difficult.

India's First Trial of Polymer Currency and Why It Was Stopped

India had earlier experimented with polymer currency in 2014, when a pilot project for Rs 10 notes was planned in cities like Kochi, Mysore, Jaipur, Shimla and Bhubaneswar. However, that trial was eventually discontinued due to technical and operational challenges.

Officials have once again made it clear that there is no plan to withdraw paper currency in the country. The public is being urged to stay alert, ignore rumours on social media, and rely only on official government and RBI communication channels for accurate financial information.

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