Explained: Is the Ban on Old Rs 100 Banknotes in India?

Recent rumours have been circulating claiming that the Reserve Bank of India (RBI) may withdraw the old series of ₹100, ₹10, and ₹5 currency notes by March or April 2021. 

These unverified reports have created unnecessary anxiety among the public, prompting some individuals and shopkeepers to hesitate or even refuse to accept the older notes for daily transactions. Such panic, however, stems from misinformation rather than any official announcement.

In reality, the gradual withdrawal of older currency series is a normal international practice undertaken by central banks once new series are introduced with enhanced designs and improved security features. The RBI has followed similar procedures in the past—for example, by withdrawing all pre-2005 banknotes—while ensuring that the process does not inconvenience the general public. Even during such phases, older notes continue to remain valid and can be freely used for transactions until formally declared otherwise.

During a meeting of the District Level Security Committee (DLSC) and District Level Currency Management Committee (DLMC) at Netravati Hall in the Mangaluru Zilla Panchayat, Mr. Mahesh addressed these concerns directly. He clarified that the older ₹100, ₹10, and ₹5 notes may eventually be phased out as part of the routine replacement cycle, especially as newer series become more widely available. However, he stressed that there is no reason for alarm, as these notes will continue to be legal tender and must be accepted in all transactions.

He further urged the public not to fall prey to rumours and to rely only on official updates from the RBI. He also highlighted that replacing old notes is a long-term and systematic process aimed at improving efficiency, enhancing security features, and maintaining the overall quality of currency in circulation—without causing any disruption to everyday life.

By clarifying the facts, authorities hope to dispel misinformation and reassure citizens that the old series notes remain fully valid, usable, and acceptable across the country.