Reserve Bank of India refutes rumors of shortage of ₹10, ₹20, and ₹50 notes ahead of Diwali
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Reserve Bank of India refutes rumors of shortage of ₹10, ₹20, and ₹50 notes ahead of Diwali

The Reserve Bank of India (RBI) has refuted the circulating rumor that there might be issues with the availability of ₹10, ₹20, and ₹50 denomination banknotes during the Diwali holidays. The RBI stated that it has sufficient quantities of all types of banknotes in its vaults and treasuries.

A message circulated on social media platforms, including WhatsApp, claiming that there could be a decrease in the availability of new ₹10, ₹20, and ₹50 notes during the festive season. This message was presented as advice from the RBI, causing concern among consumers and small traders before Diwali.

The Fact Check division of the Press Information Bureau (PIB) also confirmed that this claim is entirely false, and that the RBI has never made any statements regarding a shortage of low-denomination notes.

A fake circular dated October 27, 2026, and numbered 'RBI/2026-27/124' contained a statement that the RBI is gradually reducing the printing of ₹10, ₹20, and ₹50 notes due to the transition to a less cash-based economy and the promotion of digital payments. It included a warning about a possible shortage of these small denominations during Diwali and advised citizens to withdraw or prepare cash in advance to avoid inconvenience during the holidays.

In a post on the social media platform X, the RBI clearly clarified that all types of notes, including low-denomination ones, are always available in sufficient quantity in the RBI's vaults and treasuries, and that the content of the fake circular is misleading. The RBI noted that the notification was fraudulent, using an incorrect name and logo, and the signature was falsified in the name of the bank governor. It reiterated that the bank's vaults and treasuries have sufficient quantities of banknotes of all denominations. The central bank emphasized that it had not issued any recommendations that ₹10, ₹20, or ₹50 notes would be unavailable or that their supply would decrease by Diwali. The bank urged people not to trust this fake circular or forward it further.

According to statements from the RBI and PIB, there is no official restriction on the supply of small notes during the festive period, despite the increased demand for cash for gifts, purchases, and local transactions. Both bodies advised people to check any statements on the Central Bank's official website or through verified social media accounts. The bank requested reliance only on official communications, not on forwards from unverified sources. Banks are expected to continue issuing regular notes from their treasuries.

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Punjab National Bank and Canara Bank change deposit rates, offering interest rates from 7.10% to 7.25%
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Punjab National Bank and Canara Bank change deposit rates, offering interest rates from 7.10% to 7.25%

Those planning to place funds in a bank deposit (Fixed Deposit, FD) or who already have such deposits should pay attention to the rate changes. Punjab National Bank (PNB) and Canara Bank have adjusted their FD interest rates in November. The new terms came into effect on November 1 and November 2, 2026, respectively.

At Canara Bank, the maximum rate for senior citizens is 7.25%, and for regular customers, it is 6.75%. Meanwhile, PNB offers a maximum of 6.60% for regular customers and 7.10% for senior citizens. These rates apply to domestic FDs amounting to less than 3 crore rupees.

The new interest rates at Canara Bank started applying from November 2, 2026. The bank increased the interest on select term FDs by 15 basis points (0.15%). The highest percentage is offered by the bank for a special FD term of 555 days.

Interest Rates for Regular Customers:

For the special FD term of 555 days, the rate is now 6.75%, whereas previously it was 6.60%. Additionally, a rate of 6.65% is offered for the special FD term of 444 days.

Interest Rates for Other Terms:

For senior citizens, the maximum rate for the special FD term of 555 days reaches 7.25%, up from the previous 7.10%. For the 444-day FD, the rate is 7.15%.

Furthermore, Canara Bank provides an additional interest of 0.50% above the standard rate for qualified senior citizens on domestic FDs of 180 days or more.

The new FD rates at Punjab National Bank (PNB) came into effect on November 1, 2026. The bank offers an interest rate from 3% to 6.60% for regular customers, with the maximum rate achieved on a special FD term of 444 days.

Interest Rates for Regular Customers:

For senior citizens at PNB, the maximum rate for the special FD term of 444 days is 7.10%. Rates of 7% are also offered for a 666-day FD and 6.75% for a one-year FD.

The bank also provides an additional percentage for certain super-senior citizens aged 80 and above.

In addition to these two public sector banks, the large private bank Accent Bank has also made changes to its FD rates. However, these changes concern domestic bulk fixed deposits (Bulk Fixed Deposit) amounting to 3 crore rupees or more. The new rates became available from November 3, 2026, and differ from the bank's standard retail FD programs.

It is important to remember that the actual return on FD depends on the investment term, customer category, and conditions set by the bank. Before making an investment decision, it is recommended to check the interest rate information on the bank's official website.

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