RBI: Will Paper Notes Stop Circulating from June 30? Will the RBI Introduce Plastic Currency? Here’s What the Government Said

A viral social media claim has sparked confusion about the Reserve Bank of India (RBI), alleging that paper currency will soon be banned and replaced with plastic notes in India. The rumor, which specifically mentioned June 30 as the date for the change, quickly spread online and triggered widespread concern among users, with many comparing it to the 2016 demonetisation episode.

However, the claim has been officially rejected by the government’s fact-checking machinery. The Press Information Bureau’s official X account said the video and the message circulating online are completely fake. According to PIB, there is no plan from the RBI to withdraw paper notes or introduce plastic currency by June 30, 2026, or at any other announced date. The agency clarified that no such official announcement has been made by the RBI or the government.

PIB also urged the public not to believe or share unverified information circulating on social media. It advised people to rely only on official RBI communication and to check government sources before accepting or forwarding such claims. The agency further recommended that suspicious or misleading information related to the government should be reported through PIB Fact Check.

The false rumor gained traction because it tapped into public memory of the 2016 currency exchange drive, when the government invalidated high-value notes in a major move that disrupted cash circulation across the country. That history made the current claim seem believable to some users, even though no policy change has been announced.

At present, there is no indication from the RBI or the central government that paper currency is being phased out, nor is there any official roadmap for a switch to plastic notes. The viral posts appear to be part of a broader wave of misinformation that regularly spreads on social platforms, particularly around banking, finance, and currency-related issues.

Authorities have reiterated that currency-related updates will be communicated through proper official channels if and when any policy decision is taken. Until then, the circulating claim that paper notes will be banned from June 30 and replaced with plastic notes remains false and unsupported by any government statement.