Summary of this article
RBI has dismissed claims of a shortage of smaller currency notes.
Adequate stocks of Rs 10, Rs 20 and Rs 50 notes are available.
Public has been advised against sharing unverified RBI circulars.
The Reserve Bank of India (RBI) has asked people to ignore a fake circular claiming that Rs 10, Rs 20 and Rs 50 notes may become scarce during Diwali. The document, which has been shared on social media, carries the central bank's name and logo and appears to have the RBI Governor's signature.
In a post on X on November 2, the RBI has warned that the circular was not issued by it. The central bank has also clarified that it has enough currency notes of all denominations, including Rs 10, Rs 20 and Rs 50 notes, in its vaults and currency chests.
Fake Notice Claims Printing Of Small Notes Is Being Cut
The document is dated October 27, 2026, and claims that people may face a shortage of smaller currency notes during Diwali. It also links the alleged shortage to the growing use of digital payments and the government's efforts to reduce cash transactions.
According to the forged circular, the printing of Rs 10, Rs 20 and Rs 50 notes is being reduced as more people use digital payment methods. It advises people to arrange cash in advance to avoid problems during the festive season.
The document also encourages the use of Unified Payments Interface (UPI), cards and net banking for payments. However, the RBI has rejected the claims and clarified that it has not issued any such notice.
No Shortage Of Banknotes
The central bank has confirmed that its vaults and currency chests have enough stocks of notes of all denominations, including notes of smaller denominations which were mentioned in the fake circular.
The fake circular's spread during the Diwali season can potentially lead to panic as individuals might require more cash to travel, buy gifts and other festive items. On top of that, smaller notes are often used by shopkeepers and customers for regular purchases, especially when they need change.
The RBI's clarification means that people do not need to make extra cash withdrawals or rush to banks because of the alleged shortage mentioned in the circulating document.
RBI Asks People Not To Share Unverified Notices
The central bank has urged people to check its official communication channels before believing or forwarding notices carrying its name. Its website and verified social media accounts are the appropriate sources for updates on currency supply and other announcements.
RBI has also advised the public to be careful around documents which carry official stamps, logos or signatures, and to verify before spreading any such document on the internet.
