Rs 500 Note: Is the Reserve Bank of India, the country’s banking regulator, planning to reintroduce demonetization in partnership with the government? Are the government and the RBI gearing up for Demonetization 2.0 after almost ten years? Are 500 rupee notes about to vanish from the nation? Will 500 rupee notes completely disappear from circulation? These are the questions buzzing on social media and causing concern among the public. Recently, there have been reports about the potential discontinuation of 500 rupee notes.
Additionally, it’s being suggested that the government will keep the 100 rupee note as the highest denomination in the currency system. Since these rumors emerged online, people have started recalling the demonetization that happened a decade ago and the difficulties they encountered back then. Now, the government has made its position clear regarding this news. Let’s see what the government has said about the potential discontinuation of 500 rupee notes.
The truth was revealed in a fact check by PIB
The Fact Check Unit of the Press Information Bureau (PIB) has dismissed the claims circulating on social media that the central government intends to ban 500 rupee notes. PIB Fact Check labeled this information as “fake.” In a post on X, PIB Fact Check mentioned that there are claims on social media suggesting that the Government of India is planning to ban 500 rupee notes… This claim is #fake. PIB also clarified that no such announcement has been made by the central government. The Fact Check Unit even shared a screenshot of the misleading social media post.
PIB has issued a warning
The PIB has advised the public to depend solely on official sources for accurate information regarding government policies and decisions. In its post on X, PIB Fact Check emphasized that for reliable information about financial policies and decisions, one should only trust official sources. The Fact Check Unit of the Press Information Bureau regularly exposes false information spread on social media platforms, which is often spread with the malicious intent of tarnishing the image of the government.