RBI Plastic Currency Rumour Goes Viral Again, PIB Debunks Claim

The central government's fact-checking unit has rejected a viral claim circulating on social media that the Reserve Bank of India (RBI) will withdraw paper currency notes and replace them with plastic currency notes from June 30, 2026.

In a post on X, PIB Fact Check has clarified that the claim was false and that the RBI has not announced any decision to discontinue paper currency notes or replace them with plastic notes by the date mentioned in the viral social media posts.

The clarification came after several posts on social media, which claimed that paper banknotes would soon be phased out and replaced with plastic currency across the country. The posts were shared widely, leading to confusion among netizens.

Are Paper Banknotes Being Discontinued

The viral social media posts are claiming that paper currency notes will be withdrawn from circulation and they will be replaced with polymer-based plastic notes, from June 30, 2026.

According to the fact-check, there is currently no proposal to withdraw existing paper notes, nor has the central bank issued any such deadline.

Why The Rumour Spread

The claim seems to be associated with the recent discussions around polymer-based currency notes. RBI Governor Sanjay Malhotra, during a press conference after the Monetary Policy Committee (MPC) announcements on June 5, stated that the central bank is weighing the pros and cons of introducing polymer-based banknotes.

Polymer notes are made from a special type of plastic and are used in several countries because they generally last longer than conventional paper-based notes. Discussions around their possible introduction, however, do not amount to a decision to replace all existing currency notes.

As a result, some social media users appear to have misrepresented the discussion as a confirmed policy decision.

Importance Of Verifying Currency-Related Claims

Claims related to currency often attract public attention because they can affect everyday financial transactions. In the past, authorities have also issued clarifications on misleading messages related to banknotes, demonetisation and banking regulations.

PIB Fact Check has advised citizens to check information through the RBI's official website and other authorised government channels before acting on or sharing such claims.

The latest clarification makes it clear that there is no announced plan to replace paper currency notes with plastic notes by June 30, 2026, despite what viral social media posts suggest.