Daijiworld Media Network - Mumbai

Mumbai, Oct 15: In a recent move to address growing confusion, the Reserve Bank of India (RBI) has issued a fresh advisory regarding the status of old Rs 100 notes. The central bank confirmed that both old and new Rs 100 notes remain legal tender, reassuring the public amidst swirling rumours about their validity.

The RBI clarified that there is no deadline for exchanging old Rs 100 notes and emphasised that merchants must accept both versions without hesitation. This advisory comes in the wake of misconceptions following the introduction of the new lavender Rs 100 note in 2018.

For those looking to exchange old or damaged Rs 100 notes, the RBI provided clear guidelines: customers can visit any bank branch, complete a note exchange form, and present valid identification. The process is straightforward and incurs no fees.

Since their introduction in 1938, Rs 100 notes have evolved, originally featuring King George VI before transitioning to Mahatma Gandhi's portrait. The lavender note introduced in 2018 has become a significant part of Indian currency.

The RBI also urged the public to handle notes with care, advising against writing, folding, or exposing them to heat and sunlight. Damaged notes should be exchanged at banks without delay.

This advisory is part of the RBI's ongoing efforts to maintain public confidence in the currency system and ensure smooth financial transactions across the country. With this clarification, the RBI aims to restore public confidence in the currency, ensuring that both old and new Rs 100 notes continue to play a vital role in India’s economy.