I found this piece of news on Economic times:
"The Reserve Bank of India has issued orders for the withdrawal of all currency notes of years 1996 and 2000 in a bit to contain the fake currency racket. The withdrawal will take place by January 2009. The decision was made after a multi-crore fake currency scam was unearthed in Uttar Pradesh. Notes of denomination 10, 20, 50 and 100 are to be withdrawn by the RBI. Counterfeit notes are largely of the 1996 and the 2000 series. Crude attempts have been made to breach the 2005 series also. New series of currency notes will have increased security features"
what does this mean for all of us?
Start collecting and staching away as many notes as you can. These will be the sought after notes in a few years. Try to save lower denomination notes as you can save more notes without straining your cash flow. I also hear that there is going to be a new governer of RBI.
Hope this info helps