Social media is abuzz with rumours about the validity of old Rs 100 notes. Shopkeepers in some states refusing these notes fueled the rumours, causing widespread concern. The RBI has responded to these concerns. Learn more about the RBI's official statement regarding the validity of old ₹100 notes.
The Reserve Bank of India (RBI) has the sole authority to print or demonetize currency notes. Established in 1935, the RBI was initially headquartered in Kolkata and later moved to Mumbai. Originally under private ownership, it was nationalized in 1949. The RBI has 22 regional offices across India. Shaktikanta Das is the current Governor. Let's find out what he said about the ₹100 notes.
The first Rs 100 note featuring Mahatma Gandhi was printed in 1949, post-independence. Since then, it has been printed in various designs, sizes, and colours. The RBI has revised the currency notes from time to time due to counterfeiting and developmental reasons.
The blue and green colour tone design of the 1970s was popular. The 1980s saw changes in size and design. The Mahatma Gandhi series began in 1996. In 2005, the note was revised with new anti-counterfeiting technology. The 2018 Mahatma Gandhi series Rs 100 note features a violet colour, watermark, and the 'Rani Ki Vav' in Agra.
To combat counterfeiting prevalent in the 1980s and 90s, security features like watermarks, tri-colour beads, micro-letter printing, sequential numbering, and hidden replication were introduced. Polymer Rs 100 notes were tested in some regions. The current Rs 100 note (2018) from the Mahatma Gandhi series measures 66mm x 142mm and has security features like a security thread, Rani Ki Vav feature, hidden 100 numbers, and a hidden Gandhi portrait, making it difficult to counterfeit.
Old or torn Rs 100 notes can be exchanged at any bank without any fee. The bank will verify the note's authenticity and issue new notes if the number series is visible and clear. Notes with illegible number series, writing, excessive folds, or damage are generally not accepted in shops. Exchange such notes at your nearest bank.
The RBI has addressed the rumours about old Rs 100 notes being invalid, confirming their continued validity. The RBI urged people not to believe such rumours and clarified that the social media reports are fake. Old Rs 100 notes are legal tender and can be used everywhere. Complaints can be filed against those refusing to accept them.
subscribe to Asianet Newsable WhatsApp channel by clicking here.