Viral Sach: Rs 1000 note making comeback, Rs 2000 note to be withdrawn?

NEW DELHI: As the New Year is getting closer and with 3 days to go for December 30 deadline set by Prime Minister Narendra Modi to ease money supply, a viral message has taken social media by storm signalling arrival of the new Rs 1,000 currency notes and departure of the newly introduced Rs 2000 denomination notes.

According to the message, from 1 January onward 'pink notes' will be taken back into the banking system and new Rs 1,000 notes will make a comeback.

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"You will be allowed to deposit up to Rs 50,000 in your bank account in a 10 day window, after which Rs 2000 notes will cease to be legal tender. So don't keep more 2000 rupee notes with you," the message claimed.

This 'move' is being circulated as the second 'surgical strike' on black money as, according to the message, those who have amassed Rs 2000 notes through unfair means will not be able to deposit them in banks.

Therefore, this move, the message said, will rattle all black money hoarders.



We, while doing a reality check on this message, learnt that a similar rumour emerged last week about ‘pink notes’ claiming that these notes will be phased out by the government by June 2016.



However, the government sources had said that the Centre has no plans to withdraw Rs 2,000 currency note.

About Rs 1000 making coming back in 2017, the RBI said it's not considering to re-introduce Rs 1000 notes as of now.



"Choice of denominations (in currency notes) depends upon the requirements of public as time goes on. Whether 1000 rupee notes will be coming or not, we will decide upon it later. As of now we are not determined towards it," R Gandhi, Deputy Governor of the RBI, said.