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No, RBI won't withdraw Rs 2,000 notes! Don't believe forwarded messages on WhatsApp

The message doing the rounds states that after December 31, citizens would not be able to exchange their Rs 2,000 notes

twitter-logoBusinessToday.In | December 17, 2019 | Updated 16:23 IST
No, RBI won't withdraw Rs 2,000 notes! Don't believe forwarded messages on WhatsApp
Govt has clarified no new Rs 1,000 note will be issued

According to a WhatsApp message doing the rounds, the Reserve Bank of India is withdrawing the Rs 2,000 currency and issuing new Rs 1,000 notes. However, the government has set the record straight and stated that no such move is being taken by the apex bank.

The message doing the rounds states that after December 31, citizens would not be able to exchange their Rs 2,000 notes. It also states that only up to Rs 50,000 of Rs 2,000 notes can be exchanged. The circulation also states that the Rs 1,000 notes would be in circulation from January 1 onwards.

The Press Information Bureau took to Twitter to debunk the claim earlier this month. "Claim: WhatsApp msgs/YouTube channels claim that RBI is releasing new Rs 1,000 notes and discontinuing the Rs 2,000 notes. Reality: There is no such announcement by RBI. Conclusion: Fake News," it stated.

The fake message started circulating after media reported that an RTI application revealed that the government has stopped printing Rs 2,000 notes. This gave rise to rumours that the government is planning to discontinue the Rs 2,000 notes.

The apex bank had also issued a statement regarding this. "These are all rumours. There has been no such notification (by the RBI). Please refer to the website for all communication," it said.

Minister of State for Finance Anurag Thakur informed the Rajya Sabha on December 11 that the government had no such plans. Thakur, however, stated that the currency in circulation has increased in the three years since demonetisation. The value of total notes in circulation as at end of March 2019 stood at Rs 21,10,900 crore, Thakur said. In the preceding fiscal 2017-18 (fiscal ended March 2018), the notes in circulation were Rs 18,03,700 crore, while it stood at Rs 13,10,200 crore at the end of 2016-17.

Also read: Currency in circulation rises to Rs 21 lakh crore as on March 2019, says Anurag Singh Thakur

Also read: Rs 2,000 notes can be demonetised, won't cause disruption, says Subhash Chandra Garg

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