In what comes as a recent development, the Reserve Bank of India (RBI) is planning to withdraw the old series Rs 100 notes by March or April.
The old Rs 100 notes will be withdrawn in order to ensure people use only the new notes, said B Mahesh, assistant general manager of the Reserve Bank of India.
“The RBI has decided to ensure withdrawal of all old Rs 100 notes by March-end. The old notes are not being printed for six years now,” he said and assured, “This is not a part of the demonetization and people need not fear. The RBI wants to ensure only the new notes are in circulation.”
Mahesh added that more new Rs 100 notes should be provided by the ATMs. “There is, however, technical problems with providing notes of lower denomination, including Rs 10, Rs 20 and Rs 50,” he explained.