Will RBI Replace Paper Currency with Plastic Notes by June 30, 2026? Here's What PIB Said

A viral social media claim suggesting that the Reserve Bank of India (RBI) will withdraw paper currency notes and replace them with plastic currency notes from June 30, 2026, has created confusion among the public. The government's fact-checking arm, PIB Fact Check, has clarified that the claim is false and that the RBI has made no such announcement. 

Is RBI Replacing Paper Currency Notes with Plastic Notes? 

No. The PIB Fact Check team has clarified that the viral claim circulating on social media regarding the withdrawal of paper currency notes and their replacement with plastic currency notes from June 30, 2026, is fake. 

The agency said that the RBI has not announced any plans to withdraw existing paper currency notes or replace them with plastic notes by the stated date. 

What Did PIB Fact Check Say About Plastic Currency Notes? 

In a post on X, the PIB Fact Check team dismissed the viral claim and urged people not to rely on unverified information related to government policies and financial matters. 

The agency stated that, according to the 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 and to verify information before sharing it on social media or messaging platforms. 

Read More: RBI Cancels Registration of 135 NBFCs Across India; Several Kolkata-Based Firms Affected 

Is RBI Considering Polymer Currency Notes? 

Following the Monetary Policy Committee meeting on June 5, 2026, RBI Governor Sanjay Malhotra said that the proposal to introduce polymer currency notes is under consideration. 

He stated that the RBI is examining the advantages and disadvantages of polymer notes and that the proposal remains at a preliminary stage. The Governor also clarified that no decision has been taken, and no timeline has been announced for introducing polymer currency notes in India. 

Conclusion 

The PIB Fact Check team has clarified that the RBI has not announced any plan to replace paper currency notes with plastic currency notes from June 30, 2026. While polymer currency notes are under preliminary consideration, the RBI has stated that no decision has been taken regarding their introduction or implementation timeline. 

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