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Claim
PM Modi announces the issue of new ₹500 & ₹2000 currency notes.
Fact
Video from 2016 shared as recent.
A purported video of Prime Minister Narendra Modi announcing the issue of new currency notes of ₹500 and ₹2000 denomination is going viral online. In the 49-second-long-video, PM Modi is heard saying, “RBI’s proposal of new ₹2000 notes has been accepted. ₹500 and ₹2000 currency notes with completely new designs will be brought into circulation.”
Multiple X and Facebook users shared the video claiming, “New ₹500 & ₹2000 Note coming soon.” Newschecker, however, found that the video is old, and is being shared out of context.
Such posts can be seen here, here, here and here.
Newschecker received the claim multiple times on our WhatsApp tipline (+91-9999499044) requesting to be fact checked.
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Fact Check/Verification
A keyword search for “new,” “₹500,” “₹2000″ and “notes” on Google did not yield any credible report on any such recent decision by the government.
However, we found multiple reports from November 2016 detailing the government’s decision to withdraw ₹500 and ₹1,000 currency notes from circulation. Adding that the Prime Minister has also announced the introduction of new ₹500 and ₹2000 currency notes.
One such report by Times of India, dated November 8, 2016, featured the viral video of PM Modi announcing the issue of new currency notes, and stated, “Currency notes of ₹500 and ₹1000 denominations will not be legal tender beginning November 9. This was announced by Prime Minister Narendra Modi in a special address to the nation. He said the move was aimed at curbing the negative impact of fake currency, black money and corruption on the nation’s economy.”
PM Modi’s full speech on the demonetisation decision was also shared on the official YouTube channel of Times Now – outlet’s watermark can be seen in the viral video- on November 9, 2016. The viral clip can be seen around 32:30 minutes into the video.
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It also streamed live on the official YouTube channel of Narendra Modi on November 8, 2016. PM Modi can be heard announcing the issue of new ₹500 and ₹2000 currency notes around 32:15 minutes into the video.
The transcript of PM Modi’s address on November 8, 2016 was also shared on his official website, and can be seen here.
Notably, the RBI decided to withdraw the ₹2000 denomination banknotes from circulation in pursuance of its “Clean Note Policy,” it stated in a Press Release in May, 2023. It further added, “banknotes in ₹2000 denomination will continue to be legal tender.” Recently, the RBI announced that 98.08% of the ₹2,000 banknotes in circulation have been returned.
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Conclusion
Hence, the viral video of PM Modi announcing the issue of new currency notes of ₹500 and ₹2000 denomination is actually old.
Result: False
Sources
Report By Times of India, Dated November 8, 2016
YouTube Video By Times Now, Dated November 9, 2016
YouTube Video By Narendra Modi, Dated November 8, 2016
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