Last week, there were confirmed reports about the Govt of India unleashing a new wave of demonetization for some currency notes, effective from March 2021.
However, the PIB has now clarified that the old notes will be still legal tender, and there is no such plans to stop their circulation.
Read on to find out all the details!
Demonetization of Rs 100, Rs 10, and Rs 5 From March 2021?
Last week, it was reported that the old series currency notes of Rs 100, Rs 10, and Rs 5 will be demonetized from March 2021.
B Mahesh, who is the Assistant General Manager of RBI, also confirmed this news while he was at a function organized by the District Lead Bank at Mangaluru’s Netravati Hall in Zilla panchayat.
He said that the circulation of the old series of Rs 100, along with Rs 10 and Rs 5 currency notes will be completed stopped after March 2021.
During the same event, the General Manager of the RBI also stated that the coins of Rs. 10 are not being accepted despite repeated assurances from the RBI and the government as well.
He also has asked everyone to support the usage of Rs. 10 coins and to keep up the circulation.
Press Information Bureau Clarifies; RBI Made No Such Announcement
However, the Press Information Bureau, or PIB, took to Twitter to rubbish this news, stating the news to be fake. In the tweet, the PIB has stated that this is a fake claim and the Reserve Bank of India hadn’t made any such announcement.
Now, this has created even more confusion: While an RBI Manager has claimed that old Rs 100, Rs 10 and Rs 5 notes will be stopped and pulled out from the circulation, another PIB tweet says the exact opposite.
This is a developing story, and we will keep you updated as more details come in.