Is Govt bringing back Rs 1,000 currency notes? Here's the truth behind temple-motif viral currency note

New Delhi: A viral message is doing the rounds on social media that claims that new banknotes of Rs 1,000 denomination is being released soon. The currency notes circulated in the viral messages shows a yellow colour Rs 1,000 Indian currency notes.

The Rs 1,000 note shown in the viral message bears a temple motif. The notes in the viral message replicates Reserve Bank of India print that the official currency notes bear.

"FAKE 1,000 NOTE ALERT! Several social media posts claim that a new Rs 1,000 note has been issued. This claim is fake. The RBI has made no announcement regarding the issuance of a new Rs 1,000 note. Verify information through official sources and do not share unverified claims," PIBFactCheck has tweeted.

How to get messages fact-checked by PIB

If you get any such suspicious message, you can always know its authenticity and check if the news is for real or it is a fake news. For that, you need to send the message to https://factcheck.pib.gov.in. Alternatively you can send a WhatsApp message to +918799711259 for fact check. You can also send your message to pibfactcheck@gmail.com. The fact check information is also available on https://pib.gov.in.

Polymer banknotes in India

Meanwhile, the Indian government approved a proposal to introduce one billion polymer banknotes each in Rs 10 and Rs 20 denominations for field trials.

In a written reply to the Rajya Sabha in August, Finance Minister Nirmala Sitharaman said the Reserve Bank of India (RBI) -- based on the recommendation of its central board -- had submitted the proposal to the government under Section 25 of the RBI Act, 1934.

The proposal also envisages regular issuance of polymer banknotes in the two denominations if the field trials are successful.

"The proposal has been approved by the government. As per the RBI, these polymer banknotes are proposed to be issued along with paper substrate-based banknotes," the minister said.

She added that the RBI has informed the government that the procurement process is currently at an initial stage.

Consequently, the timeline for introduction of the polymer notes and the expenditure involved cannot yet be determined.

RBI Governor Sanjay Malhotra had also previously confirmed that the central bank was targeting the launch of polymer currency notes at the beginning of the next financial year.

With IANS Inputs