The old currency notes of Rs. 100, 10, and 5 may soon vanish from the market, as the Reserve bank of India (RBI) is planning to withdraw the old notes, according to a report.
The top bank is planning to discontinue the old currency notes plan by the end of March or April. However, it has not yet been confirmed by the Reserve Bank of India.
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Assistant General Manager (AGM) of the Reserve Bank of India (RBI) B Mahesh, according to the media reports, stated that the old currency notes of Rs. 100, 10, and 5 will eventually vanish from the market because RBI is planning discontinue them by March-April. He was speaking at the District Level Security Committee (DLSC) and District Level Currency Management Committee (DLMC) meeting.
Reserve Bank of India had released the new currency notes of Rs. 100 in 2019. The new note is in lavender color with the motif of ‘Rani ki vav.’
“All Rs 100 banknotes issued earlier will also continue to be legal tender,” the central bank had said at the time issuing the new Rs 100 notes.
