Rs 1,000 Notes Coming Back, Rs 2,000 Notes To Be Banned By Govt ? Here Is What You Need To Know —

Rs 1,000 Notes Coming Back, Rs 2,000 Notes To Be Banned By Govt ? Here Is What You Need To Know —



Recently A video of an ‘ABP News’ channel news clip is being shared on social media claiming that from 01 January onwards, the government is introducing new Rs. 1,000 currency notes and is planning to ban Rs. 2,000 notes as legal tender. Further, the post claims that the government is willing to allow people only 10 days to deposit their old Rs. 2000 notes and that too within a maximum limit of Rs. 50,000 per head. Let’s verify the claim made in the post.

Claim: The government is planning to ban Rs. 2,000 notes as legal tender and is willing to introduce new Rs. 1,000 notes from 01 January 2023.

Fact: The post shared an edited video clip from the ‘Viral Sach’ episode published by the ‘ABP News’ channel on 26 December 2016. The full video of this episode shows the ‘ABP News’ channel debunking a viral message claiming the ban of Rs. 2,000 notes and the re-introduction of Rs. 1,000 notes from 01 January 2017. ‘ABP News’ in the report rated it as a false message and clarified that no such decision was taken by the government. Lately, the government did not announce any such plans of banning Rs. 2,000 notes and re-introducing the new Rs. 1,000 notes into the market. Hence, the claim made in the post is FALSE.

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PIB from time to time advises that people should not click any such suspicious links being sent over as a viral message.


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When was Rs 1000 banned?


Old Rs 1000 notes were banned and withdrawn from circulation during demonetisation in 2016 by the Government in order to curb black money. The Government also introduced new Rs 2000 notes along with new notes of other denominations.

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Fake notes in circulation



Replying to another query in Rajya Sabha regarding the circulation of fake currency notes, the Finance Ministry said that 2,30,971 pieces of counterfeit currency notes were detected in the banking system in FY 2021-22.



“Reserve Bank of India had issued banknotes in all denominations in Mahatma Gandhi Series – 2005, with a new exploding numbering pattern in 2015. This security feature was maintained in the new Mahatma Gandhi series also. With these visible security features the general public can easily distinguish a counterfeit note from a genuine one,” Minister of State in the Ministry of Finance, Pankaj Chaudhary said on December 13, 2022.

“More than 90% of the counterfeit notes detected in the banking system were of low quality and none of the major security features were compromised. Details of security features of these notes are displayed on the RBI website for the general public,” he added.

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