Is RBI replacing paper currency with plastic notes from June 30, 2026? Check details

Is the Reserve Bank of India (RBI) replacing paper currency with plastic currency notes? Several social media posts circulating online have recently claimed that the RBI would withdraw existing paper currency notes and replace them with plastic currency notes from June 30, 2026, onwards.

The Press Information Bureau’s (PIB) fact check team has revealed that this viral claim is fake. According to a social media post from the PIB Fact Check team, the RBI has not announced any plan to withdraw paper currency notes or replace them with plastic notes by June 30, 2026.

PIB Fact Check team’s clarification on news of paper currency being replaced with plastic notes

In a social media post on X (formerly Twitter), the PIB Fact Check team stated that the claim being shared online was fake. It has also urged people not to believe or forward unverified information.


The PIB Fact Check team said that the RBI has made no announcement regarding the withdrawal of paper currency notes or their replacement with plastic currency notes. It advised citizens to rely only on official sources for information related to currency, banking and financial matters.

The PIB Fact Check team has also suggested people to verify information before sharing it, specially when it is related to government policies or announcements.

How to report suspicious claims related to government policies

The PIB Fact Check team has urged citizens to report suspicious content related to the Government of India through the following channels:
WhatsApp: +91 8799711259
Email: factcheck@pib.gov.in

Is India considering introducing plastic currency in the near future?

After the Monetary Policy Committee (MPC) meeting on June 5, 2026, Reserve Bank of India governor Sanjay Malhotra said that the Central Bank was considering a proposal to introduce polymer currency notes in India, but the idea was in the preliminary stage and no final decision had been made.

Addressing the media after the MPC meeting on June 5, Malhotra said, "Polymer note is under consideration. We are examining the pros and cons. It is at a preliminary stage."

What happens to old-design banknotes when a new design is introduced?

As per the RBI’s website, “Both old and new design notes usually circulate together for a while. Old design notes are then gradually withdrawn from circulation when they become unfit to be re-issued.”

What is the material used for manufacturing currency paper notes?

The paper currently being used for printing banknotes in India is made by using 100% cotton.

What if a banknote is found to be non-payable?

Non-payable banknotes are retained by the receiving banks and sent to the RBI where they are destroyed.

Who decides on the figure to be printed on a new banknote?

In terms of Section 25 of the RBI Act, the design, form and material of bank notes shall be such as may be approved by the central government after considering recommendations made by Central Board.