2016 video of PM Modi falsely shared while announcing new 500 and 2000 notes in December 2024

A video (here, here And here) of Prime Minister Narendra Modi, stating that the proposal for new 2000 notes has been accepted by the Reserve Bank of India (RBI) and that the redesigned 500 and 2000 notes will be put into circulation, is widely shared on social media social. We have also received several requests on our WhatsApp alert line (+91 92470 52470) to verify the authenticity of the viral video. Let's investigate the claim made in the post.

Claim: Prime Minister Narendra Modi said redesigned 500 and 2,000 notes will be put into circulation in December 2024.

Do: This video is from November 8, 2016, in which Prime Minister Modi announced the demonetization of 500 and 1000 notes, stating that redesigned 500 and 2000 notes would be put into circulation. Therefore, the assertion made in the post is FAKE.

A reverse image search of the viral video's visuals led us to the live-streamed original. video on the official YouTube channel of Narendra Modi, dated November 8, 2016. The same video was uploaded on the YouTube channels of several media. In this video, Prime Minister Modi addresses the nation, announcing that from midnight of November 8, 2016, 500 and 1000 notes will cease to be legal tender.

At 32:12 timestamp of video, Modi also states that the proposal for a new 2000 note had been accepted by the Reserve Bank of India (RBI) and that redesigned 500 and 2000 notes would soon be put into circulation. This specific part of the video was cut and is now circulating in December 2024 as if it was a recent decision by the Indian government.

It is important to note that the 2,000 note introduced in November 2016 was removed of traffic in May 2023. According to an RBI press release as of December 2, 2024, 98.08% of Rs 2,000 notes have been returned, leaving notes worth 6,839 crores still in circulation. The RBI also clarified that 2,000 notes continue to be legal tender. Furthermore, on November 25, 2024, the Ministry of Finance informed Parliament that the facility to exchange 2,000 bank notes is available at the 19 issuing offices of the Reserve Bank. These offices also accept 2,000 bank notes from individuals and entities for deposit into their bank accounts. Additionally, the public can send 2,000 notes via India Post from any post office in the country to any of the RBI issuing offices for crediting into their bank accounts.

To summarize, a 2016 video of Prime Minister Modi during the demonetization announcement was falsely shared as a recent video of him announcing new 500 and 2,000 notes.

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