MoIB warns against spreading false news of Rs5,000 banknote ban

The official Ministry of Information and Broadcasting (MoIB) handle recently confirmed that the news circulating on various social media platforms regarding the ban of Rs5,000 banknotes is fake.

In a recent post, MoIB stated, “Disseminating #FakeNews is not only unethical and illegal but it is also disservice to the nation. It is the responsibility of everyone to reject irresponsible behavior.”

Disseminating #FakeNews is not only unethical and illegal but it is also disservice to the nation. It is the responsibility of everyone to reject irresponsible behavior. Reject #FakeNews pic.twitter.com/bfrLn0b2Io

— Fact Checker MoIB (@FactCheckerMoIB) September 7, 2023

The fake letter circulating on social media falsely claims, “Effective Date: The ban on Rs5,000 currency notes will take effect on September 30, 2023. From this date onwards, these notes will no longer be legal tender.

Exchange and Deposit: Citizens and financial institutions are encouraged to exchange or deposit their Rs 5000 notes at authorized banks and financial institutions until the specified deadline. After September 30, 2023, the notes will only be accepted at designated government offices and central banks.”

This is not the first time such news has gone viral on social media regarding the discontinuation of Rs5,000 notes. Similar false reports have surfaced in the past, and reputable news channels have later clarified that no such action is being taken.