RBI clarifies claims of shortage of ₹10, ₹20 and ₹50 notes during Diwali are false

The Reserve Bank of India (RBI) has completely dismissed claims going viral on social media suggesting that there could be a shortage of small denomination notes of ₹10, ₹20 and ₹50 during the Diwali festivities. The Reserve Bank has clarified that all types of bank notes are available in sufficient quantities in its vaults and currency chests; therefore, consumers and traders need not worry.

According to reports, a message was spreading rapidly on WhatsApp and other social media platforms, claiming that the availability of new ₹10, ₹20 and ₹50 notes could be affected during the festive season. This message was presented as official advice from the RBI, causing significant anxiety among general consumers and small traders ahead of Diwali.

The Fact Check unit of the Press Information Bureau (PIB) also investigated the matter and stated that the claim is entirely fake. PIB confirmed that the Reserve Bank has issued no such announcement or notification regarding a shortage of low-denomination notes.

The viral fake circular mentioned the date October 27, 2026, and reference number 'RBI/2026-27/124'. This forged document claimed that the RBI is gradually reducing the printing of ₹10, ₹20 and ₹50 notes to promote digital payments and boost a cash-less economy. The fake circular further warned that this could lead to a shortage of small notes during Diwali, advising people to withdraw cash in advance or make arrangements to avoid difficulties during the festival.

In a clarification posted on the social media platform 'X', the RBI stated, "It has come to the notice of the Reserve Bank of India that some elements are fraudulently using the name and logo of the Reserve Bank of India and circulating fake circulars with forged signatures of the Governor, indicating that there may be a shortage of ₹10, ₹20 and ₹50 notes during the upcoming festive season."

The RBI further clarified, "It is clarified at the outset that all denominations of notes, including low-denomination notes, are available in sufficient quantities in the RBI's vaults and currency chests, and the contents of the fake circular are misleading."

The central bank emphasised that the notice was completely fake. The bank's name and logo were misused, and a forged signature of the Governor was used. The RBI reiterated that it has not issued any such advisory stating that ₹10, ₹20 or ₹50 notes would be unavailable or their supply would decrease before Diwali. The bank has requested the public not to trust or forward this fake circular.

This statement brings relief to households and shopkeepers, as the demand for small notes is highest during festivals for gifting, shopping, and local transactions. The RBI's statement makes it clear that there is no official restriction on the supply of small notes.

Both the RBI and PIB Fact Check have appealed to people to verify any claims through the central bank's official website or verified social media handles before sharing. The bank has advised people to rely only on official communications from the bank rather than unverified social media forwards. It is expected that the distribution of notes will continue as usual through banks and currency chests.

The public is requested to rely only on information published by the RBI from time to time. This entire incident demonstrates how attempts were made to spread panic among people through misinformation, which the central bank stopped by taking prompt action.