Daijiworld Media Network – Mumbai
Mumbai, July 5: Millions of people across India have been left worried by a viral social media message claiming that Rs 10, Rs 20, Rs 50 and Rs 100 currency notes printed before 2005 would cease to be legal tender from July 1. However, the Reserve Bank of India (RBI) and the Government of India have categorically dismissed the claim as fake, confirming that no such decision has been taken and that all genuine pre-2005 notes of these denominations continue to remain valid.
The misleading message, which has spread widely across WhatsApp, Facebook and other social media platforms, urged people to rush to banks and exchange old currency notes immediately, falsely claiming that they had been demonetised from July 1. The post triggered confusion and anxiety among the public, with many believing they would be left holding worthless currency.
To lend credibility to the false claim, the viral post was cleverly designed to resemble an official government notification by misusing the logo of Bank of Maharashtra. It claimed that all Rs 10, Rs 20, Rs 50 and Rs 100 notes printed before 2005 would no longer be accepted for transactions from July 1 and falsely attributed the decision to the RBI.
As the message gained traction and fuelled public concern, the Press Information Bureau (PIB), the Central Government's official fact-checking agency, conducted a detailed verification.
Following its investigation, the PIB declared the viral notification to be completely fake.
In an official clarification issued through its social media platforms, the PIB stated that the viral notice has no legal validity whatsoever and urged the public not to believe or circulate the misinformation.
Bank of Maharashtra also distanced itself from the fabricated notification, clarifying that it had never issued such a notice and that its official logo had been misused to deceive the public.
The Reserve Bank of India has likewise put all speculation to rest, confirming that there has been no withdrawal of legal tender status for currency notes printed before 2005.
The central bank reiterated that all genuine Rs 10, Rs 20, Rs 50 and Rs 100 banknotes, irrespective of the year of printing, continue to be valid for transactions unless specifically withdrawn through an official RBI notification.
Authorities have therefore urged the public not to panic or rush to banks to exchange old notes, stressing that there is neither a deadline nor any demonetisation order relating to these denominations.
The government has also cautioned citizens against blindly trusting messages circulating on social media, pointing out that fake claims relating to banking, currency and financial matters have become increasingly common in recent years.
People have been advised to verify any information concerning banking or currency only through official government sources, RBI notifications or the PIB Fact Check platform before taking any action. Messages received through WhatsApp, Facebook or other social media platforms should never be forwarded without first confirming their authenticity.
Officials warned that fabricated financial news has the potential to create unnecessary panic, disrupt normal market transactions and erode public confidence in the banking system. They appealed to citizens to act responsibly by refraining from sharing unverified posts, thereby helping to curb the spread of misinformation.
For those still holding old Rs 10, Rs 20, Rs 50 or Rs 100 notes printed before 2005 in their wallets, homes or lockers, the message from the authorities is clear: there is absolutely no cause for concern. Neither the Government of India nor the RBI has issued any order banning these currency notes from July 1. They continue to remain legal tender across the country, and there is no threat to the validity or value of the money in circulation.