Is RBI replacing paper notes with plastic banknotes or polymer currency from June 30, 2026? The government has clarified the facts. A social media post claiming that the Reserve Bank of India (RBI) will withdraw all paper currency notes and replace them with plastic currency notes from June 30, 2026, is recently circulating. The circulating messages caused confusion among the people, with many asking whether the existing currency notes will soon become invalid. But the government has taken steps to clarify the position.
The government has strongly dismissed the claim as fake and said that there is no plan by the RBI and the government to withdraw paper currency notes by the end of June. The clarification comes amid increased speculation online following recent remarks on polymer or plastic notes in India.
PIB Fact Check: Viral currency fake claim
PIB Fact Check, in a post on social media platform X, said several social media posts are falsely claiming that the RBI will replace paper currency with plastic notes from June 30, 2026. “According to @RBI, there are no plans to withdraw paper currency notes or replace them with plastic currency notes by June 30, 2026,’ PIB said on X.
Several social media posts are falsely claiming that RBI will withdraw paper currency notes and replace them with plastic currency notes from June 30, 2026.#PIBFactCheck
❌ This claim is #Fake
✅ According to @RBI, there are no plans to withdraw paper currency notes or… pic.twitter.com/dhZqANjip9
— PIB Fact Check (@PIBFactCheck) June 9, 2026
The fact-checking unit also posted a video that was being circulated on social media showing Rs 100, Rs 50, Rs 20 and Rs 10 notes, citing it as a ‘digitally altered video’, along with a Hindi caption and what appeared to be a speech by Prime Minister Narendra Modi. The PIB stated that the video was fake and cautioned against spreading the fake news.
The Indian government had also appealed to citizens to only consider the press notes released by RBI and check facts before passing them through social media or chat groups.
From where does this rumour about plastic money arise?
It is said that it could have started with the recent post-Monetary Policy Committee (MPC) conference remarks of RBI Governor Sanjay Malhotra on June 5, 2026.
He had indicated that the RBI is considering plastic or polymer notes in India, but stated that these were preliminary talks and that no decision had yet been taken.
“As far as polymer notes are concerned, the proposal is under consideration. As soon as any decision is taken on it, we will inform you,” RBI Governor Sanjay Malhotra said during a press meet after the MPC announcement on June 5.
The RBI has not given any timeline or plan for the rollout or replacement of the existing paper currency notes.
Will RBI Bring Plastic Currency Notes?
Even though the viral claim is false, the idea of polymer currency notes is not new.
The RBI has occasionally considered using polymer notes, as such notes are more durable, resistant to dampness and dirt and have longer circulation lives. Australia, Canada and the UK are already using polymer currency. But going for polymer notes would necessitate a lot of testing, policy clearance and a staggered introduction.
Priyanka Roshan is a business writer and assistant editor at the NewsX website who tracks everything from stock market swings and corporate earnings to personal finance trends and policy shifts. Known for turning fast-moving business developments into sharp, reader-friendly stories, she combines speed, accuracy, and a data-driven approach to break down complex financial news for everyday audiences.
With over 9.5 years of newsroom experience, Priyanka has worked with leading media organisations, including Moneycontrol, Times Now, and Ping Digital, covering diverse beats such as business, politics, technology, auto, travel, sports, and the world. From live breaking news desks to SEO-led digital storytelling, she specialises in creating engaging content that keeps readers informed without overwhelming them.
