Will RBI replace paper notes with plastic currency from June 30? PIB Fact Check reveals truth — TradingView News

A viral social media claim suggesting that the Reserve Bank of India (RBI) will withdraw paper currency notes and replace them with plastic notes from June 30, 2026, has sparked confusion among the public.

The claim, which has been widely shared across social media platforms and messaging apps, prompted a clarification from the government’s fact-checking arm.

The PIB Fact Check team has termed the claim fake, stating that the RBI has made no announcement regarding the withdrawal of paper notes or their replacement with plastic currency by the stated date. Here’s what the PIB Fact Check team, the RBI and Governor Sanjay Malhotra have said about the matter.

Is RBI replacing paper currency notes with plastic notes from June 30, 2026?

No. A viral claim circulating on social media alleges that the Reserve Bank of India (RBI) will withdraw existing paper currency notes and replace them with plastic currency notes from June 30, 2026. However, the government’s fact-checking arm has clarified that the claim is false.

What has PIB Fact Check said?

In a post on X, the PIB Fact Check team dismissed the claim as fake and urged people not to rely on unverified information.

“Several social media posts are falsely claiming that RBI will withdraw paper currency notes and replace them with plastic currency notes from June 30, 2026.”

“This claim is Fake.”

“According to RBI, there are no plans to withdraw paper currency notes or replace them with plastic currency notes by June 30, 2026.”

The PIB Fact Check team also advised citizens to refer only to official RBI communications for information related to currency and banking matters.

Is RBI considering polymer or plastic currency notes?

Yes, but only at a preliminary stage.

Following the Monetary Policy Committee (MPC) meeting on June 5, RBI Governor Sanjay Malhotra said the central bank is examining the possibility of introducing polymer currency notes in India.”

Polymer note is under consideration. We are examining the pros and cons. It is at a preliminary stage,” Malhotra said while addressing the media after the policy meeting.

No decision has been taken, and the RBI has not announced any timeline for introducing polymer notes.

What happens when a new banknote design is introduced?

According to information available on the RBI’s website, old and new banknotes generally circulate simultaneously for a period of time.

“Both old and new design notes usually circulate together for a while. Old design notes are then gradually withdrawn from circulation when they become unfit to be re-issued.”

What material are Indian currency notes currently made from?

The RBI states that the paper used for printing Indian banknotes is made from 100% cotton. These notes continue to remain legal tender unless specifically withdrawn by the central bank through an official notification.

What happens to damaged or non-payable banknotes?

Banknotes that are deemed non-payable are retained by banks and subsequently sent to the RBI, where they are destroyed as per prescribed procedures.

Who decides the design and material of banknotes?

Under Section 25 of the RBI Act, the design, form and material of banknotes are approved by the central government after considering recommendations made by the RBI’s Central Board.

How can people report suspicious claims related to government policies?

The PIB Fact Check team has asked citizens to report suspicious or misleading content related to the Government of India through the following channels:

WhatsApp: +91 8799711259

Email: factcheck@pib.gov.in

The agency has also urged people to verify information through official sources before sharing it on social media or messaging platforms.