In the year 2016, the currency notes of Rs. 1000 and Rs. 500 were completely banned by the central government. This was announced by the Prime Minister himself on 8th November. However, after this new issue of notes of Rs. 500, Rs. 100, Rs. 200, and Rs. 2000 notes was issued by the Reserve Bank of India for the purpose of easy transaction in business.
But the government also decided to withdraw the 2000 rupee note in a few years. Likewise, this year in 2023, the central government decided to abolish the 2000 rupee note from circulation. Meanwhile, the news continues to spark discussions on social media stating that the RBI may soon issue a new 5000 rupee note. Know what the RBI has said on this.
Will there be a 5000 note next year?
Rumors about the 5000 note claim that it would be issued by the RBI in the near future. Many speculate about its release especially in the year 2025. This has been roundly denied by the RBI. The Reserve Bank, in fact, has nothing to do with the issue of such notes. RBI has termed such news as total rumors running via social media. As of now in the country, the largest note is of Rs 500.
10000 rupees note also circulated in India
Let us tell you that 5000 and 10000 rupees notes were previously available in circulation in India. Both of these started their circulation in 1947 just after independence. Later, it was decided, however, to discontinue it. The printing of these notes came to a complete stop in 1954 that is seven years after the independence.
It was at the same time when these two currencies got discontinued that the Indian government introduced a new note of Rs. 1000. These Rs. 1000 notes were allowed to continue in circulation for a period of about 24 years. Later, this 1000 denomination note also got discontinued after which its new version came on the market.
Notes were discontinued through All India Radio
Let us inform you that the letter that contained public announcements regarding the discontinuance of notes was relayed by All India Radio to the masses when the then Morarji Desai government was in power.
What did RBI say on the 5000 note
The Reserve Bank of India has thoroughly disregarded the social media rumor of 5000 rupee note issuance in the forthcoming New Year. RBI has clarified that there is no such plan for the issuing of a new 5000 rupee note in the coming year. Moreover, the Reserve Bank has even admitted that the already in circulation bank notes are sufficient for the economy of the country. People are also advised to avoid such rumors.
