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No, RBI Has Not Issued New Currency In Denominations Of Rs 350 And Rs 5000; Viral Images Are Photoshopped
Writer: Jakir Hassan
A journalist at heart loves the in-depth work of reporting, writing, editing, research, and data analysis. A digital and social media enthusiast.
India, 17 Nov 2022 10:21 AM GMT
Editor : Bharat Nayak |
As the founding editor, Bharat had been heading the newsroom during the formation years of the organization and worked towards editorial policies, conceptualizing and designing campaign strategies and collaborations. He believes that through the use of digital media, one could engage the millennial's in rational conversations about pertinent social issues, provoking them to think and bring a behavioral change accordingly.
Creatives : Jakir Hassan
A journalist at heart loves the in-depth work of reporting, writing, editing, research, and data analysis. A digital and social media enthusiast.
We found that the banknotes of Rs 2, Rs 5, and Rs 1000 are photoshopped images of existing banknotes made to pass off as legitimate currency. The viral images of coins in the denominations of Rs 125, Rs 100, and Rs 1000, show commemorative coins which are not legal tender and remain out of circulation.
A set of images purportedly showing newly issued coins and currency notes in the denomination of Rs. 2, Rs. 5, Rs. 350, and Rs. 5000 is being widely circulated across messaging platforms such as WhatsApp. The images are circulated with the claim that the Reserve Bank of India has newly released currency.
Claim:
The images of currency notes in denominations ranging from Rs 2, Rs 3, Rs 5, Rs 350 to Rs 500 are being circulated. For coins, the denominations range from Rs 100, Rs 125, to Rs 1000 coins.
The coins and currency notes are claimed to be legal tender approved for transactions by the Reserve Bank of India if the captions are to be believed. These images have been circulating since at least 2019, as noted in this Facebook post.
The image has gone viral across WhatsApp. The Logical Indian received several messages on our WhatsApp fact check no. +91-6364000343 requesting to fact-check the claim.
Screengrabs of requests received on the TLI WhatsApp fact check number
Fact Check:
The Logical Indian fact check team verified the viral claim and found it to be misleading. The viral images are photoshopped.
We first conducted a keyword search to determine whether the RBI had issued a notification regarding the introduction of currency in new denominations. We couldn't find such information, after which we conducted a keyword search for the currency notes currently in circulation.
We came across RBI's Paisa Bolta Hai website, which publishes details about all the banknotes in circulation, such as the security features and designs of the banknotes. We found no banknotes with the denominations of Rs 2, Rs 3, Rs 5, Rs 350 and Rs 5000 present in the existing list of banknotes.
When it comes to the coins of various denominations, we came across several reports which indicate that these coins were commemorative coins.
Commemorative coins are released to honour certain historical personalities or to celebrate a historically significant occasion. However, they are not considered legal tender. The design of these coins refers to the occasion on which they were issued.
Rs 200 coin:
We came across a report by Economic Times published on April 18, 2016, which noted that a Rs 200 coin was issued by the then Culture Minister Mahesh Sharma on the occasion of the Martyrdom Day of Tatiya Tope. Ramachandra Pandurang Tope, popularly known as Tatya Tope, was a freedom fighter in the 1857 revolt who was captured by British forces and was hanged to death on April 18, 1859.
Rs 100 coin:
As per a Hindustan Times report published on October 18, 2022, PM Modi released a commemorative coin of Rs 100 denomination at the 90th Interpol General Assembly held in New Delhi this year. The coin was issued in honor of former Prime Minister Atal Bihari Vajpayee.
In 2020, as per this Livemint report, PM Modi released a different commemorative coin of Rs 100 in honour of Vijaya Raje Scindia, a prominent Indian political personality.
Rs 150 coin:
As per an India Today report published on February 10, 2022, Rs 150 commemorative coins were released on the occasion of Mahatma Gandhi's 150th birth anniversary.
As per an Economic Times report published on February 26, 2011, the then Finance Minister, Pranab Mukherjee, had released commemorative coins in denomination of Rs 150.
Rs 125 coin:
PM Modi released a commemorative coin on the ISKCON founder's 125th birth anniversary, as per an Indian Express report.
Rs 1000 coin:
As per a Times of India report published on July 22, 2012, a Rs 1000 commemorative coin to mark a thousand years of Brihadeeswara temple. This temple is located on the South bank of the Kaveri river in Thanjavur, Tamil Nadu and is dedicated to the Hindu god, Lord Shiva.
We also closely inspected the alleged Rs 2 and Rs 5 banknotes. The Rs 5 banknote carried the text 'Fifty Rupees' inscribed on it in Hindi. However, the number on the note is 5. On comparing the serial numbers on the alleged Rs 2 banknote and the alleged Rs 5 banknote, we found that they have the same assortment of numbers and letters which indicates that viral images are photoshopped.
We also closely noticed that the text on the alleged Rs 1000 note reads 'Two Thousand Rupees' in Hindi. This is a photoshopped image of a Rs 2000 banknote passed off as a newly launched Rs 1000 banknote.
Conclusion:
We found that the banknotes in the denominations of Rs 2, Rs 5, and Rs 1000 are photoshopped images of existing banknotes made to pass off as legitimate currency. The viral images of coins in the denominations of Rs 125, Rs 100, and Rs 1000, show commemorative coins which are not legal tender and remain out of circulation. Thus, we can ascertain that the viral claims regarding the coins and banknotes are misleading.
If you have any news that you believe needs to be fact-checked, please email us at factcheck@thelogicalindian.com or WhatsApp at 6364000343.
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