Taking to Twitter, the Reserve Bank of India (RBI) on Monday refuted reports claiming that the Rs 100, Rs 10 and Rs 5 denominations would be withdrawn from circulation—reports apparently building on apprehensions about paper currency following the shock withdrawal of the Rs 500 and Rs 1000 notes in 2016.
"With regard to reports in certain sections of media on withdrawal of old series of Rs 100, Rs 10 & Rs 5 banknotes from circulation in near future, it is clarified that such reports are incorrect," the RBI tweeted.
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
Prior to the demonetisation of notes in 2016, the RBI had issued new looks for the legal tender: the Rs 500 note had been revamped. Later, the RBI went on to change the look of the Rs 10, Rs 50 and Rs 100 notes, in addition to adding a new Rs 200 note. However, the old Rs 10, Rs 5, Rs 50 and Rs 100 notes continued to be in circulation. This may have sparked fears that the new notes would be replaced by the old.
However, with the RBI’s confirmation, such reports have been proven baseless.