The Reserve Bank of India (RBI) has clarified that the currency notes of Rs. 100, 10, and 5 will remain legal tender. This comes amid reports about RBI’s plan to withdraw the three currency notes by March or April.
In a statement, RBI has said that the report about the RBI’s plan to withdraw three currency notes is fake and that the Central Bank is not planning to illegalize the currency notes of Rs. 100, 10, and 5.
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 (DLMC), said Rs. 100, 10, and 5 old currency notes will eventually vanish from the circulation following a norm, but it will remain a legal tender.
The District Lead Bank had organised the meeting at Mangaluru’s Netravati Hall in Zilla panchayat.
However, the businessmen and traders have not accepted the coin of RS.10 as a legal tender after 15 years of the launch. It has become a problem for banks and the Reserve Bank of India.
“All Rs 100 banknotes issued earlier will also continue to be legal tender,” the central bank said.
Additionally, after the demonetization on November 8, 2016, the Reserve Bank of India introduced a new Rs 200 note.
