No plans of withdrawing old banknotes, says RBI

The Reserve Bank of India has denied reports that old currency notes will become invalid from March this year. The central bank clarified in a twitter statement that media reports on withdrawal of old series of banknotes of Rs 5, Rs 10 and Rs 100 from circulation were incorrect. The Rs1,000 and Rs 500 currency notes were rendered invalid by demonetisation that took place in the year 2016, but old notes of Rs 5, Rs 10 and rs 100 have continued as legal tender.

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

Media reports quoted B Meena, the Assistant General Manager of RBI, who had said that the apex bank is planning to withdraw old series of these currency notes and put them out of legal money flow in the economy. This sparked a wave of concern among citizens.