Some days back, you must be hearing news of Rs 2000 notes to reportedly be taken out of circulation. Although there wasn’t any official confirmation by the Reserve Bank of India (RBI) or other authorities, it was reported by different news channels and platforms that it could be a part of the central bank’s strategy to keep a tab on the total amount of high-value currency in circulation.
A paper also reported “the largest denomination currency will remain legal tenderbut would be gradually phased out of public circulation.
‘Rs 2000 denomination’ News Confirms to be Fake
Earlier, on Feb 26, it was reported by news agency IANS that Finance Minister Nirmala Sitharaman on Wednesday said that no instructions have been given to banks on stopping issuing notes of Rs 2000 denomination.
In a meeting with the heads of PSU banks, Sitharaman said that she has known of no such instruction been given to the banks on stopping issue of Rs 2000 notes.
The Minister’s comments come after reports of ATM recalibration to phase out of Rs 2,000 notes and that the largest currency denomination will remain legal tender, but would be gradually phased out of public circulation.
It was understood that the move of removing Rs 2000 note from ATMs would benefit banks and white-label ATM (WLA) deployers as they earn Rs 15 per swipe and lower denominations would mean increased transactions for withdrawal of larger sums.
Another Fake News Creeping on the Internet!
There has been lot number of messages available on WhatsApp, Facebook, Twitter and other social media apps and websites claiming that a new Rs 1000 note has been released by RBI. Reacting to these viral message, PIB Fact Check’s Twitter handle has said that the claim made is fake!
PIB Fact Check says “A fake rumour has been circulating on social media with the claim that RBI has issued a new 1000 Rs note. The image circulating and the claim made is fake as the notification for the same has NOT been released by RBI”.