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RBI denies Message on Currency Notes circulating on Social Media

The Reserve Bank of India has today denied having issued a communication circulating on social media alerting members of public that banks will not accept currency notes with scribbling on them from January 1, 2016.

The Reserve Bank has reiterated that all currency notes issued by it are legal tender and banks and members can freely and without fear accept them in exchange for goods and services.


Figure 1: This message is incorrect

The Reserve Bank has also stated that in pursuance of its clean note policy, it keeps requesting banks and members of public not to write on the currency notes as writing defaces them and reduces their life.

Audio of Governor Dr. Raghuram G. Rajan refuting the rumour

Alpana Killawala
Principal Chief General Manager

Press Release: 2015-2016/1400

 

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