Rs 1,000 notes coming back from January 1? Govt replies

In 2016, the government overnight demonetised old 500 and 1000 rupee notes and a new 2,000 rupee currency note along with a 500 rupee note was introduced.

For the last few days, a viral video is being circulated on social media claiming that Rs 1000 notes are coming back from January 1, 2023. The news spread amind the backdrop of a government reply in Parliament that no fresh indent for printing Rs 2000 currency notes have been placed since 2018-19.

However, the news of the Rs 1000 notes coming back from January 1 is untrue. There is no such plan by the government to reintroduce Rs 1000 notes which were banned by the government in 2016 after a public address on television by Prime Minister Narendra Modi.

The government of India’s PIB Fact Check took to microblogging platform, Twitter, to caution people against such frivolous and misleading claims. PIB Fact Check said on Twitter, “A viral video on social media is claiming that Rs 1000 notes will come from January 1 and Rs 2000 notes will return to banks. This claim is fake. Please do not forward such misleading messages. It further said that the Central Government has not decided to ban Rs 2000 notes.

A demand to gradually phase out 2,000 rupee currency notes has been made in the Rajya Sabha with BJP MP Sushil Kumar Modi saying citizens holding such banknotes should be given two years to deposit them.

Raising the issue through a zero-hour mention, he said 2,000 rupee notes have vanished from most ATMs in the country and there are rumors that they may not be legal tender soon.

He said 2,000 rupee notes are being hoarded and are often used in illegal trades such as that drugs, and money laundering. The 2,000 rupee note – the highest currency denomination in the country – has become synonymous with black money, he said.

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