The Reserve Bank of India stepped in to dismiss online rumors after a forged circular claimed printing cuts would trigger shortages of lower-denomination cash during Diwali. The deceptive document falsely carried the central bank's logo and urged consumers to switch entirely to digital payment options like cards and UPI. Notably, the fraudulent letter was dated October 27, 2026, and featured a fake signature attributed to an unauthorized individual acting as governor. The central bank reiterated that adequate currency supplies exist and advised the public to consult only verified official sources.
Key points
Citizens should verify central bank announcements exclusively through official communicat…: Citizens should verify central bank announcements exclusively through official communication channels to avoid misinformation.
Festive cash demands will be fully met because currency stocks remain adequate across eve…: Festive cash demands will be fully met because currency stocks remain adequate across every denomination.
The circulating advisory promoting exclusive digital payment use was confirmed to be comp…: The circulating advisory promoting exclusive digital payment use was confirmed to be completely fabricated.
Sources checked by our analysis pipeline: 1
Diwali is a time when people buy new things, from household items to jewellery. While for large money payments, they use big currency notes such as Rs 100, Rs 200 and Rs 500, for small transactions, they depend on Rs 10, Rs 20 and Rs 50. But will there be a shortage of Rs 10, Rs 20, and Rs 50 currency notes this Diwali?
Instead of using notes of small denominations, do people need to depend on Unified Payments Interface (UPI), debit and credit cards and net banking as alternatives ahead of the festival?
A fake circular using the name and logo of the Reserve Bank of India (RBI) and fake name and signature of the RBI Governor is making the rounds on the internet, claiming that there is a shortage of currency notes of Rs 10, Rs 20 and Rs 50 this Diwali and people need to depend on UPI, cards and other forms of payments. To stop people from believing it, the RBI has stepped in.
Also Read: Gold taxation explained: How much tax you pay on selling…
The state-run engineering major is capitalizing on rising power equipment demand by expanding core manufacturing and streamlining internal divisions. Strong earnings momentum and a swelling project pipeline have prompted fresh domestic brokerage upgrades despite ongoing operational risks. These developments offer investors clarity on long-term execution capabilities following a period of substantial valuation gains.
Shares of the freelance platform are seeing an unexpected influx of buying pressure during the latest trading session. Market participants are actively tracking the rally, though the underlying operational or financial drivers behind the sudden momentum remain unconfirmed. Investors are left assessing whether broader industry trends or undisclosed corporate developments are responsible.
Nordax Bank has reported a third-quarter profit that exceeded expectations. The financial institution outperformed forecasts for the period, according to its latest quarterly results.