Preparations are underway to introduce plastic currency notes in the country. Following a Monetary Policy Committee (MPC) meeting, the Governor of the Reserve Bank of India (RBI) stated that the proposal is currently in its preliminary stage. Plastic notes—typically made of highly durable polymer—are already in circulation in several countries around the world; they offer superior security features and greater durability. Such notes will also come into circulation in India in the near future. Meanwhile, reports are circulating on social media claiming that the introduction of plastic notes will lead to the discontinuation of the paper notes currently in use—the ones in your pockets and wallets. Naturally, this raises the question: are paper notes really being phased out? The government’s information agency, PIB, has provided a response on behalf of the RBI, stating that the viral information is completely fake.
PIB revealed truth
The RBI is being cited even in misleading posts circulating on social media. The Press Information Bureau’s (PIB) Fact Check Unit has advised the public to remain cautious regarding these misleading claims. The government agency has clarified that the viral news about the discontinuation of paper currency notes is completely fake.
Refuting a viral claim, PIB Fact Check stated, “Some social media posts are claiming that the RBI is going to withdraw paper notes and issue plastic currency notes in their place starting June 30, 2026.” PIB has termed this claim completely fake.
According to the PIB, the RBI has formulated no such plan. Neither are paper notes being withdrawn, nor has any announcement been made regarding their replacement with plastic notes. The PIB has urged the public to verify such information on the RBI’s official website before believing it.
What is the update on plastic notes?
Plastic banknotes could come into circulation in the country in the near future. RBI Governor Sanjay Malhotra has stated that the Reserve Bank is considering issuing plastic currency notes, although no final decision has been taken on the matter yet. There were numerous reports in the media and on social media regarding preparations for plastic banknotes, and the Governor himself acknowledged that there was truth to the reports concerning polymer notes. However, he stated, “The Reserve Bank has not yet reached any conclusion; the RBI is currently reviewing the pros and cons.”
He said, “The central bank is examining whether implementing this in the country would actually prove beneficial or not. This plan is currently in the initial phase, and information will be provided as soon as a major decision is taken.”
