The Press Information Bureau posted a fact check on X that said claims circulating on social media were false, and that, according to the Reserve Bank of India, there were no plans to withdraw paper currency notes or replace them with plastic notes by June 30, 2026.
PIB FACT CHECK
The PIB statement addressed posts that stated India would move from paper banknotes to plastic or polymer notes from June 30. The bureau said those posts were fake, and it cited the RBI as saying there were no such plans.
The post referenced the Reserve Bank of India in stating that there were no plans to withdraw paper currency notes or replace them with plastic notes by June 30, 2026. The PIB Fact Check post was published on X on 9 June.
RBI CURRENCY POSITION AND CONTEXT
RBI Governor Sanjay Malhotra said on 5 June that a proposal to introduce polymer notes was under consideration but still at a preliminary stage, adding: "As soon as any decision is taken on it, we will inform you." The recent PIB clarification underscored that no such announcement had been made, and therefore the public should regard the social media claims as inaccurate.
The immediate policy position, as clarified by the PIB, left the existing banknote framework unchanged.
PIB urged the public to verify information through official sources.
Sources: The Hindu Business Line Banking
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