Is Rs 5000 note launching in India? RBI clarifies rumors

Discussions are circulating on social media regarding the Reserve Bank of India introducing a 5000 rupee note as Indian currency.

Government concerns have risen since the discontinuation of the 2000 rupee note. The highest denomination note in India is currently 500 rupees.

5000 New Note: पांच हजार रुपये का नया नोट होने वाला जारी; RBI ने दी ये जानकारी https://t.co/0o31ckKOjp
मोदीसरकार ने काला धन खत्म करने के नाम पर पहले 500 & 1000 के नोट बंद करती है और उसके बाद 500 & 2000 के नोट जारी करती है और क्या 5000 के नोट जारी करने से क्या काला धन नहीं बढ़ेगा?

— preetam kumar (@kaushal_pks) December 31, 2024

The new government announced the demonetization of the 2000 rupee note as high-value currency is already in circulation.

High-value notes are not new to India. 5000 and 10000 rupee notes were in circulation since independence in 1947.

These denominations included a 5000 rupee note introduced in 1954. This high-value note enjoyed nearly 24 years in circulation before the government led by Prime Minister Morarji Desai in 1978 decided to withdraw all 1000, 5000, and 10000 rupee notes.

An announcement was made on All India Radio regarding this matter. The RBI has clarified the rumors circulating on trending social media websites about the introduction of a new green 5000 rupee note. This news is false.

No to 5000/- Rupees notes https://t.co/lxQzV1SA70

— uttam mishra (@uttamprithvi) December 30, 2024

The country's banking regulator, Mr. Shasikanta Das, clarified that there is no truth to these rumors.

He stated that the RBI has only decided to withdraw the 2000 rupee note. False news about a green 5000 rupee note is circulating.

Currently, notes of 500, 200, 100, 50, 20, and 10 rupees are in circulation. This adds to the cumulative report of runs batted in.

Any new currency or note will only be announced by the Reserve Bank of India or the Ministry of Finance.

Many green denominations have been introduced worldwide from Buck Trust. Is it the public's expectation that no new denomination notes will be introduced?

The importance of digital payments is increasing. The government is currently promoting digital payments. UPI, cyberspace banking, and digital wallets are taking significant steps towards replacing notes.

The rumor about a 5000 rupee note is entirely false. Run batted in says that marriage proposals are as grand.

Only trust information from official sources and do not be misled by rumors spread on social media. Any significant changes happening in the current financial sector are harmless and good for the country's economy.