RBI Releases New Rs 350 And Rs 5 Notes? Viral Pics Raise Questions - Check Truth

Recent images of Rs 350 and Rs 5 currency notes have gone viral on social media, sparking curiosity and speculation among the public. However, these claims are unfounded, and the Reserve Bank of India (RBI) has not introduced any such denominations.

RBI’s Role in Issuing Currency Notes

The Reserve Bank of India is the sole authority responsible for issuing currency notes in India. Over the years, the RBI has replaced worn-out notes and introduced new ones as necessary. For instance, following the 2016 demonetisation, the old Rs 500 and Rs 1,000 notes were withdrawn and replaced with newly designed Rs 500 and Rs 2,000 notes. Subsequently, a new Rs 200 note was introduced.

The Rs 350 Note Rumor

In 2023, the RBI withdrew the Rs 2,000 note, making Rs 500 the highest denomination in circulation. Despite this, photos of Rs 350 and redesigned Rs 5 notes have been widely circulated online. These images, however, are not recent; they first surfaced three years ago and have resurfaced periodically. The RBI has clarified that these pictures are fake, and no such denominations have been issued.

Current Legal Tender in India

As per RBI guidelines, the following currency denominations are currently in circulation and considered legal tender:

• Rs 5
• Rs 10
• Rs 20
• Rs 50
• Rs 100
• Rs 200
• Rs 500

While Rs 5 banknotes still exist, no newly designed notes of this denomination have been printed. Additionally, the RBI has ceased printing Rs 2 and Rs 5 notes, although those already in circulation remain valid.

Official Statement from the RBI

According to the Reserve Bank of India, "Every banknote issued by the Reserve Bank of India (Rs 2, Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 200, Rs 500, and Rs 2000), unless withdrawn from circulation, shall be legal tender at any place in India in payment or on account for the amount expressed therein, and shall be guaranteed by the Central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."

Interesting Currency Trivia

Did you know that the highest denomination note ever issued by the RBI was Rs 10,000? First printed in 1938, these notes were demonetized in 1946. The Rs 10,000 note made a brief comeback in 1954 but was permanently withdrawn in 1978.

The viral images of Rs 350 and Rs 5 notes are nothing more than hoaxes. Always rely on official RBI updates to verify the authenticity of such claims. The existing legal tender remains unchanged, ensuring stability and trust in the nation’s financial system.