Are the Old 100 Rupee Currency Notes Still Valid?
Yes, the old series of 100 rupee currency notes remain valid and legal tender in India according to the Reserve Bank of India (RBI). Despite concerns and misinformation circulating online, the RBI has made it clear that these notes continue to hold their value.
The New Mahatma Gandhi Series
In 2018, the RBI issued the new Mahatma Gandhi New Series of 100 rupee notes. These notes are distinguishable by their lavender color and modern design. However, the RBI has consistently communicated that all previously issued 100 rupee notes, including the old series, remain valid.
ERS of RBI on False Rumors
Following various claims and viral rumors in 2021 about the withdrawal of certain denominations, including the 100 rupee note, the RBI issued a statement to debunk these false beliefs. A spokesperson from the RBI stated that the central bank has no plans to withdraw these notes, ensuring their continued validity for transactions.
Legality of Pre-2005 Banknotes
It is important to note that the RBI had set a specific date in 2015 for the exchange of pre-2005 banknotes with certain denominations. On June 30, 2016, the RBI announced that these banknotes would continue to be legal tender, facilitating continued circulation.
Implications for Transactions and Usage
For everyday transactions and legal tender purposes, both the old and new 100 rupee notes are fully accepted. There is no current deadline for exchanging old 100 rupee notes at bank branches or issue offices. However, it is advisable to familiarize yourself with the new features and security measures of the new Mahatma Gandhi series to facilitate easier transactions and authentication.
Key Points:
The old 100 rupee notes remain valid as legal tender. The new Mahatma Gandhi series was launched in 2018 and coexists with the old series. No date has been set for the withdrawal of old 100 rupee notes. The RBI has clarified that pre-2005 notes continue to be legal tender. Both old and new notes can be used for transactions and legal tender purposes.Understanding these points helps ensure that you are well-informed regarding the currency used in India and can confidently conduct transactions without hesitation.