Recent media speculation claimed that a Bank of Maharashtra circular ordered the withdrawal of Rs 10, Rs 20, Rs 50, and Rs 100 notes after 30 June. This sparked public concern over a potential quiet demonetisation. However, the Bank of Maharashtra has officially dismissed the reports as fake news on its Facebook page, clarifying that no such withdrawal is taking place.
The bank stated: "A false message is circulating claiming that pre-2005 Rs 10, Rs 20, Rs 50, and Rs 100 notes will not be accepted at Bank of Maharashtra branches after 30 June 2026. Bank of Maharashtra clarifies that this information is incorrect. Customers are requested not to believe or share such messages, and to rely only on official sources for authentic information."
The post included the hashtag #FakeMessageAlert.
What Did the Viral Report Claim?
Media reports claimed that the Bank of Maharashtra had issued an order to discontinue certain old notes, suggesting other banks might follow. However, the bank's clarification has put these speculations to rest. It also confirmed that the Reserve Bank of India has not issued any such directive, dismissing the viral claim as misleading.
What Did the RBI Order Actually Say?
The Reserve Bank of India, in a 2015 communication, stated that the circulation of pre-2005 Mahatma Gandhi series notes had reduced significantly and allowed people to exchange them if needed. However, it clearly maintained that these notes would continue to remain legal tender. The RBI also emphasised that newer notes come with enhanced security features to curb counterfeiting. At no point did the central bank announce any plan to discontinue old notes. The viral claim suggesting otherwise is false-a clarification also reiterated by the Bank of Maharashtra.
