A claim is going viral on social media that the Indian government is going to ban Rs 500 notes, so that black money can be stopped. The claim started with a post in which a graphic was shared with pictures of Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman.
It was written in it that the government is preparing to ban Rs 500 notes. This post was shared by a user named Priya Purohit, in which she asked ‘Why?’ Expressed surprise by writing. Seeing this, other internet users were also surprised and started asking questions.
The Fact Check Unit of Press Information Bureau (PIB) has declared this claim completely false. PIB clarified that no such announcement has been made by the Central Government and this information is fake. This fact check was posted on X, in which the fake graphic has been stamped as fake.
There is no trace of Kairav Gandhi, now along with SIT, CID and ATS teams also started searching.
This incident shows how misinformation can spread rapidly on social media, causing confusion and panic among the general public. PIB has appealed to the people to get any information related to financial policies only from official sources.
The government has earlier also clarified that currency policies are announced only through the RBI and the Finance Ministry. People are advised to get updates from PIB, RBI website or government apps only. Taking a lesson from this incident, social media platforms should also take strict action against fake content.
Institutions like PIB play an important role in the fight against fake news, but it is also the responsibility of the public to check the authenticity of any information before sharing it. If such rumors continue to spread, it could lead to unnecessary stress in the banking system, as was seen during the 2016 demonetization.
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