A viral message claiming that old ₹10, ₹20, ₹50 and ₹100 currency notes printed before 2005 would become invalid from July 1 has created panic and confusion across social media platforms. Many people feared that another demonetisation-like move was about to happen and rushed to verify whether the Reserve Bank of India (RBI) had issued any such order.
The message, which circulated widely on WhatsApp and Facebook, carried the official logo of Bank of Maharashtra and appeared to be a genuine government notice. It claimed that all pre-2005 Mahatma Gandhi series notes would no longer be accepted in circulation after June 30 and urged people to exchange them immediately at banks.
However, the claim has now been officially debunked. The Press Information Bureau (PIB), the central government’s fact-checking agency, investigated the viral message and declared it completely fake. PIB clarified that there is no legal basis for the notice and no decision has been taken to discontinue these currency notes.
Bank of Maharashtra also issued a public clarification distancing itself from the viral message. In an official statement shared online, the bank said the information being circulated was false and requested customers not to believe or forward such rumours. The bank further advised people to rely only on official communication channels for financial updates.
The RBI has also reiterated that pre-2005 ₹10, ₹20, ₹50 and ₹100 notes continue to remain legal tender. While the central bank had previously encouraged people to exchange older Mahatma Gandhi series notes due to improved security features in newer currency designs, it never announced any ban on these notes. The old notes are still valid for transactions across the country.
The viral rumours triggered concern partly because of memories of the 2016 demonetisation exercise, when high-value ₹500 and ₹1,000 notes were abruptly withdrawn from circulation. This time, however, authorities have made it clear that no such move is being planned for smaller denomination notes.
Officials have also warned that fake financial messages are increasingly spreading on social media and can create unnecessary panic in the market. People have been urged not to trust forwards blindly and to verify all banking or currency-related information through RBI notifications, official bank statements or PIB Fact Check updates before sharing them further.
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