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| - Fact Check: Claim That Nehru Government Discontinued Currency Note With Netaji’s Picture Is Fake, It Was Issued By Azad Hind Bank In Burma
The banknote being shared as part of the Subhas Chandra Bose series was never legal tender in India and was not issued by the RBI. In 1944, Netaji Subhas Chandra Bose established the National Bank of Independence in Burma, which issued banknotes and coins featuring his picture. The first banknote issued after independence in India was a ₹1 note, from the Sarnath (Ashoka Pillar) series.
By: Abhishek Parashar
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Published: Feb 27, 2025 at 09:49 AM
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New Delhi (Vishvas News). On various social media platforms, many users are sharing a picture of a ₹10 banknote with a picture of Subhash Chandra Bose. It is being claimed that it was a ‘historic’ note discontinued by Jawaharlal Nehru.
Vishvas News in its investigation found this claim to be fake. The note was never legal tender in India. It was issued by the Azad Hind Bank (National Bank of Independence), established in Rangoon by Subhash Chandra Bose, not by the Reserve Bank of India (RBI).
The first banknote issued in independent India was a ₹1 note in 1949, featuring the Ashoka Pillar of Sarnath instead of King George. The currency series featuring Subhas Chandra Bose was never issued by the RBI.
What is viral?
Several users have also shared the viral note on Vishvas News tipline number +91 9599299372, writing, “Jai Hind 10 Rs. 10 note with Netaji Subhash Chandra’s picture. Which was discontinued by Nehru. So that Indians forget the true freedom fighter and martyr. Share it so much that it should be restarted.”
Additionally, many other users across different social media platforms have shared the same photo with similar claims.
Investigation
The viral image shows a ₹10 banknote featuring Subhas Chandra Bose, claiming that its circulation was banned by Jawaharlal Nehru.
However, the RBI website provides a detailed list of banknotes and coins issued before and after independence.
According to the RBI, the first banknotes of independent India included the Ashoka Pillar series. The first banknote of independent India was a one-rupee banknote, issued in 1949.
While retaining the old design, new banknotes replaced the portrait of King George with the lion emblem of the Ashoka Pillar from Sarnath in the watermark window.
Subsequently, 1000, 5000, and 10000 banknotes were introduced in 1954. ₹10 banknotes with Ashoka Pillar watermark series were issued in 1967 and 1992. ₹20 banknotes of this series were issued between 1972-1975. At the same time, ₹50 banknotes were issued between 1975 and 1981, while rupees 100 banknotes were issued between 1967 and 1979.
The banknotes issued during this period included symbols depicting science and technology, progress, and Indian art forms. In 1970, banknotes with the symbol ‘Satyameva Jayate’ were introduced for the first time. The ₹500 banknote featuring Mahatma Gandhi’s portrait along with the Ashoka Pillar watermark, was introduced in October 1987.
Mahatma Gandhi (MG) Series 1996
Subsequently, banknotes of ₹5, 10, 20, 50, 100, 500, and 1000 were issued under the Mahatma Gandhi (MG) series.
In this series, Mahatma Gandhi’s portrait replaced the Ashoka Pillar Lion Capital emblem on the front. However, the Ashoka Pillar Lion Capital was still retained and the watermark window was shifted to the left. As a result, these banknotes feature both Mahatma Gandhi’s portrait and his watermark.
Mahatma Gandhi Series – 2005 Bank Notes
The MG series ₹10, 20, 50, 100, 500, and 1000 rupee notes were issued in 2005 with additional security features compared to the 1996 MG series.
Mahatma Gandhi (New) Series (MGNS) – November 2016
On November 8, 2016, the ₹500 and ₹1000 banknotes of this series were demonetised, and the Mahatma Gandhi (New) Series (MGNS) was introduced.
The first banknote of this new series, a ₹2000 note, was issued on November 8, 2016. Subsequently, ₹500, 200, 100, 50, 20, and 10 notes were issued under this series.
To verify the claim made in the viral post, we conducted a keyword search and found several reports mentioning banknotes featuring the image of Subhas Chandra Bose.
According to a report by The Hindu dated November 17, 2021, a banknote issued by the Bank of Independence featuring Netaji Subhas Chandra Bose was showcased to the public on his 113th birth anniversary.
In our investigation, we found a post on the official Instagram handle of ‘The Better India’, which also mentions this note in the same context.
According to the information given in the post, “In 1944, Netaji Subhash Chandra Bose established the Azad Hind Bank in Rangoon, Burma to raise funds for the war against the British. Its purpose was to print Indian currency notes to manage the contributions received from Indians around the world. In the 1980s, retired contractor Ram Kishore Dubey found one of these rare notes in his grandfather’s book of Ramayana. His grandfather, Pragilal, was a member of the Indian National Army (INA) and was given this note by Netaji as a reward for his secret work in the Bundelkhand region.”
The note, valued ₹1 lakh, featured Bose’s picture, a pre-independence map of India, and the words ‘Bank of Independence’. A rare collection of such coins and currency notes issued by the Azad Hind Bank is preserved at The Netaji Subhas Chandra Bose Museum in Cuttack, Odisha.
Details of this museum are available on the Odisha Government’s website.
We contacted the RBI spokesperson regarding the viral claim. He stated that the details of all the series of banknotes issued in India to date are available on the RBI website.
Our investigation confirms that banknotes featuring Subhash Chandra Bose series were never issued in the country.
Conclusion: The banknote being shared as part of the Subhas Chandra Bose series was never legal tender in India and was not issued by the RBI. In 1944, Netaji Subhas Chandra Bose established the National Bank of Independence in Burma, which issued banknotes and coins featuring his picture. The first banknote issued after independence in India was a ₹1 note, from the Sarnath (Ashoka Pillar) series.
Claim Review : Tipline User
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Claimed By : नेता जी सुभाष चंद्र की तस्वीर वाला 10 रुपये का नोट, जिसे नेहरू ने बंद करवा दिया था।
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Fact Check : False
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