RBI Issued New Rs 350, Rs 5 Currency Notes? Pics Go Viral - Check Truth

The RBI has introduced new Rs 500 and Rs 2,000 currency notes after demonetisation. Subsequently, new Rs 200 notes were also introduced in India.

New Currency Notes Out? The Reserve Bank of India is authorized to issue currency notes in India. The RBI not only replenishes the gaps created by torn notes but also issues new notes whenever required. After the 2016 demonetisation, the old Rs 500 and Rs 1,000 currency notes were phased out. The RBI then introduced new Rs 500 and Rs 2,000 currency notes. Subsequently, new Rs 200 notes were also introduced in India.

RBI Issued Rs 350 Note?

In 2023, the RBI withdrew the Rs 2,000 note, making the Rs 500 banknote the largest denomination currency note in the country. With social media widely available across the country, people often share photos that go viral. Now, some photos have surfaced of Rs 350 and Rs 5 currency notes, claiming to be issued by the RBI. 

However, these are not new pics and the same resurfaced three years ago as well. These are all fake photos and the RBI has not issued any new denomination banknotes in the country. The existing denominations are Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 200 and Rs 500. While Rs 5 banknote exists, no newly designed notes of Rs 5 have been issued by the RBI. The RBI has stopped printing Rs 2 and Rs 5 banknotes but those existing in the market continue to be the legal tender. 

What RBI Said

"Every banknote issued by Reserve Bank of India (Rs 2, Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 200, Rs 500 and Rs 2000), unless withdrawn from circulation, shall be legal tender at any place in India in payment or on account for the amount expressed therein, and shall be guaranteed by the Central Government, subject to provisions of sub-section (2) Section 26 of RBI Act, 1934," said the RBI.

Currency Trivia

Do you know what was the highest denomination note ever printed? You would be surprised to know that the highest denomination note ever printed by the Reserve Bank of India was the Rs 10,000 note in 1938 which was demonetized in January 1946. The Rs 10,000 was again introduced in 1954. These notes were demonetized in 1978.