Reports on withdrawal of old Rs.100, 10 and 5 notes from circulation are incorrect: RBI

Mumbai: The Reserve Bank of India (RBI) on Monday rejected reports that old Rs.100, Rs.10 and Rs. 5 notes would be withdrawn from circulation by March-April this year.

“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” RBI has tweeted.

Earlier several media houses had reported that old currency notes of Rs 100, Rs 10 and Rs 5 will eventually go out of circulation by March-April. The reports were based on a quote by Assistant General Manager (AGM) of the Reserve Bank of India (RBI) B Mahesh while speaking at the District Level Security Committee (DLSC) and District Level Currency Management Committee (DLMC) meeting.