Fact Check: Will RBI Discontinue Rs 10 And Rs 20 Notes And Coins?

Recently, several rumours about currency have been making the rounds on social media, leaving people confused. One rumor that went viral claimed the Reserve Bank of India (RBI) would ban Rs 500 notes due to their association with counterfeit money. Another rumour suggested that the RBI was planning to print Rs 350 notes. As a result, many are left uncertain about the truth.

To set the record straight, the RBI has issued a clear response. With growing concerns about fake currency and fears that high-denomination notes might be demonetised again, the RBI has directly addressed these issues. In the past, officials from the RBI, the finance ministry, and other government departments have stepped in to clarify such rumors, assuring the public that any changes to the currency system would only be announced officially.

Now, fresh rumours are circulating, claiming that the RBI will discontinue Rs 10 and Rs 20 coins and notes. In response, the central government has clarified that Rs 10 notes and coins will continue to be in circulation, and there are no plans to remove them. Additionally, the government has stated that more Rs 10 notes and coins will be printed if necessary. There is no halt in the production of Rs 20 notes either.

Officials have urged the public not to panic over these baseless rumors and to only trust official announcements regarding currency matters. They emphasized that all official news will come from authorized government channels and should be the only information people rely on.

Furthermore, the central government provided an update on the ₹20 coin, stating that plans are underway to introduce a new ₹20 coin, similar to the ₹10 coin already in circulation. The public will have to wait for an official release date for the new Rs 20 coin.

In short, the central government and the RBI are asking the public to ignore baseless rumors and to wait for credible information from trusted sources when it comes to currency matters.