Claim
₹100 notes from old series to be discontinued by March 31, 2024
Newschecker received the same claim on our WhatsApp tipline (+91 9999499044) requesting for it to be fact-checked.
Fact
Newschecker began verifying the claim by conducting a keyword search on the terms ‘RBI’ ‘₹100 notes’ and ‘discontinued’. We found no relevant results that indicated that RBI had made any such announcements.
However, we found reports from January 2021 carrying clarification by the RBI, that the old series of notes would continue to be legal tender. In these reports, the RBI has clarified that there are no plans for the withdrawal of ₹100 notes from the old series. “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,” the reports read, quoting a tweet by the RBI. You can see such reports here, here and here.
The RBI had issued the new series of ₹100 notes carrying the iconic ‘Rani ki vav’ on the currency, in July 2018. The press release announcing the new notes then said, “All the banknotes in the denomination of ₹100/- issued by the Reserve Bank in the earlier series will continue to be legal tender.”
We also checked the details of the currency notes and found that the old series of notes are still legal tender.
The notification section of RBI also does not have any notifications regarding the withdrawal of ₹100 notes from the old series. The last notification was about the withdrawal of ₹2,000 notes from circulation, on September 30, 2023, which revealed that almost 96% of the Rs 2000 notes that were in circulation have been returned. But it had no mention of ₹100 notes.
Newschecker has also reached out to RBI for further clarification. We will update this article with their response once we receive it.
Result: False
Our Sources
Report by Live Mint dated January 25, 2021
Report by NDTV profit dated January 25, 2021
Report by CNBC TV18 dated January 25, 2021
RBI notification on currency dated September 30, 2023
RBI list of banknotes in India
RBI press note announcing launch of new ₹100 notes
If you would like us to fact-check a claim, give feedback or lodge a complaint, WhatsApp us at 9999499044 or email us at checkthis@newschecker.in. You can also visit the Contact Us page and fill out the form. Follow our WhatsApp channel for more updates
