Fact check: Viral claim on plastic currency from June 30, 2026 is fake

A series of viral social media posts claiming that the Reserve Bank of India (RBI) will withdraw paper currency and replace it with plastic notes from June 30, 2026 have been confirmed as false by official fact-check authorities.

PIB Fact Check: Viral claim is fake

According to the Press Information Bureau (PIB) Fact Check, there is no such decision or announcement from the RBI regarding replacement of paper currency with plastic (polymer) notes.

PIB has clarified that the message circulating online is misleading and urged citizens to rely only on official RBI or government sources for financial and policy updates.

What is polymer currency?

Polymer currency means banknotes made from a thin plastic-like material instead of the usual cotton paper used in normal currency notes.

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PIB has also urged citizens not to circulate unverified messages and to rely only on official sources for information related to currency and monetary policy.

Polymer notes: What RBI is actually discussing

Malhotra said no decision has been taken in the matter as yet, and the apex bank is examining the feasibility of such a move.

"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," Malhotra said during the post-monetary policy press conference in Mumbai on June 5.

"We are examining the pros and cons of it and whether it would be worthwhile to implement. It is still at a preliminary stage," Malhotra said.

The RBI is evaluating the advantages and drawbacks of polymer notes and whether their introduction would be worthwhile, according to the governor.

In February 2014, the government informed Parliament that one billion plastic notes of the Rs 10 denomination would be introduced in a field trial in five cities selected for their geographical and climatic diversity. The selected cities were Kochi, Mysore, Jaipur, Shimla and Bhubaneswar.

The initiative was later put on hold as technological and operational issues surfaced.