50 and 100 rupee notes will not be scrapped, government refutes rumors

Rumor mills are spinning fast, and it is the common man who bears the brunt of the after effects of such rumors. After demonetizing 500 and 1000 rupee notes, there were rumors that the government will demonetize 50 and 100 denomination currency also. However today the government has refuted any such rumors and asked the public not to be misled by such rumors.

The social media is a double-edged sword. It is useful for spreading a message and equally effective in spreading rumors. The quality of the notes has also been questioned by some who contend that it bleeds color. However, the government said that it is a security feature and not a disadvantage. The Press Information Bureau also said that no chip has been affixed on the Rs 2000 note and talks about it are a figment of the imagination.

The government on Wednesday made it clear that it has no intention to seal bank lockers and seize jewelry. The PIB in a series of tweets refuted some rumors which are floating around in the air.

The shortage of currency in ATM’s has made the public agitated, and at many places, it has become law and order problem. However, with the start of the dispensation of the new 500 and 2000 rupee denomination notes, the situation will be stabilized to a large extent. Prime Minister Narendra Modi had announced the introduction of the new notes in the same speech in which he had announced the monumental decision to demonetize the Rs. 500 and Rs. 1000 currency notes.

The move was necessary to root out black money from the economy. It was something which was touted in the election manifesto of the BJP and NDA. However, the opposition parties have banded together and asked the government to roll back its decision since it caused great hardship to the common man.

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