Is there shortage of Rs 10, Rs 20 and Rs 50 currency notes this Diwali? RBI clarifies

Diwali is a time when people buy new things, from household items to jewellery. While for large money payments, they use big currency notes such as Rs 100, Rs 200 and Rs 500, for small transactions, they depend on Rs 10, Rs 20 and Rs 50. But will there be a shortage of Rs 10, Rs 20, and Rs 50 currency notes this Diwali?

Instead of using notes of small denominations, do people need to depend on Unified Payments Interface (UPI), debit and credit cards and net banking as alternatives ahead of the festival?

A fake circular using the name and logo of the Reserve Bank of India (RBI) and fake name and signature of the RBI Governor is making the rounds on the internet, claiming that there is a shortage of currency notes of Rs 10, Rs 20 and Rs 50 this Diwali and people need to depend on UPI, cards and other forms of payments. To stop people from believing it, the RBI has stepped in.


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In a social media post on X (formerly Twitter), the RBI has clarified that sufficient notes of all denominations, including lower denominations, are available in RBI vaults and currency chests, and the content of the forged circular is misleading.


What does the fake circular say?

The fake circular, dated October 27, 2026, and bearing the fake name and signature of Dr M Rajesh Kumar, portraying as the RBI Governor, says-

Important advisory on availability of small denomination notes during Diwali

In view of the ongoing push towards a less-cash economy and increased digital payments, the Reserve Bank of India (RBI) wishes to inform the public that new Rs 10, Rs 20 and Rs 50 denomination banknotes may not be available in sufficient quantities during the upcoming Diwali festival.

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The fake circular has also given suggestions to people to use UPI, cards and electronic forms of banking.

The fake circular further says-

Key points:

Printing of small denomination notes is being progressively reduced, in line with the government's vision of a cashless society.

Customers are encouraged to use digital payment modes such as UPI, cards, net banking and other electronic options.

People are advised to plan their cash requirements specially during the festive season.

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What did the RBI say in its response to the fake circular?

In response to the fake circular, the RBI has also advised people not to believe the message, assuring them of sufficient currency notes during the festival.

The RBI message says-

It has come to the notice of the Reserve Bank of India that certain elements are fraudulently using the name/ logo of the RBI and circulating a forged circular signed in the name of the Governor, RBI, indicating that there may be a shortage of currency in lower denominations of Rs 10, Rs 20 and Rs 50 during the upcoming festival season. It is clarified at the outset that sufficient notes of all denominations, including lower denominations, are available in the RBI vaults and currency chests, and the content of the forged circular is misleading.

The RBI further says that the members of the public are, therefore, requested to rely on information published by the RBI from time to time in such matters.