Mumbai, December 31: x post claiming the introduction of an INR 5,000 ( Five Thousand) note by the Reserve Bank of India (RBI) is making waves on social media. The viral post showcased a purported INR 5,000 note, sparking widespread speculation and curiosity. Let's see if the news of new notes is true or false.

Speculation surrounding an INR 5,000 note has sparked debates on social media, fueled by viral tweets and images claiming the Reserve Bank of India (RBI) plans to introduce this high-denomination currency. Several users are sharing posts suggesting that the RBI is set to launch the INR 5,000 note soon, reigniting discussions about its potential impact. References to historical instances, such as the withdrawal of INR 5,000 and INR 10,000 notes in 1978 under Prime Minister Morarji Desai to curb corruption and black money, have further added to the buzz. However, RBI has not issued any official confirmation about such a move. RBI Governor Sanjay Malhotra Says Prospects of Indian Economy Expected To Improve in 2025.

Social Media Abuzz with Claims of RBI Introducing INR 5000 Note

Fact Check on INR 5,000 Note

The claims regarding the existence of a 5000 Indian Rupee note are entirely fake. The image in question emerged after a Reddit user (SuperDuper_Bruh) shared their concept design titled "My concept of a 5000 Indian Rupee note (front side only)." This design was created by a Reddit user and is not an official note issued by the Reserve Bank of India (RBI). Fake Currency Racket Busted in Sonbhadra: 2 Men Print INR 500 Notes on INR 10 Stamp Papers Using YouTube Videos in Uttar Pradesh, Arrested.

My concept of a 5000 Indian Rupee note (front side only)

byu/SuperDuper_Bruh inbanknotedesigns

In 2014, The RBI clarified that reports about launching an INR 5,000 note were false. Social media, particularly Twitter, was buzzing with discussions about such a launch, with many calling it a "badly photoshopped INR 1,000 note." An RBI spokesperson told NDTV, "There are no such plans. We don’t know how this rumor started."

Interestingly, INR 5,000 notes were once in circulation in the 1950s, along with INR 1,000 and INR 10,000 notes. However, these high-denomination notes were withdrawn later. According to the RBI, the early 1960s' economic challenges led to changes, and in 1967, smaller-sized notes replaced them.

Fact check

New INR 5,000 Note Being Released by RBI? Here’s a Fact Check About Fake Image of Indian Currency Going Viral on Social Media
Claim :

Netizens claim that RBI is soon going to issue a new INR 5,000 note

Conclusion :

The note is a Reddit user’s concept design, not an official release.

Full of Trash
Clean

(The above story first appeared on LatestLY on Dec 31, 2024 01:17 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).