Fact Check: Viral images of commemorative coins shared as real money is false

Notes of Rs.2, Rs.3, Rs.350 and Rs.500, and coins of Rs.100, Rs.125 and Rs.1000 are being randomly shared over WhatsApp and other social networking sites claiming that RBI has released new currency as legal tender.

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Fact Check: Viral images of commemorative coins shared as real money is false. The policy times

Notes of Rs.2, Rs.3, Rs.350 and Rs.500, and coins of Rs.100, Rs.125 and Rs.1000 are being randomly shared over WhatsApp and other social networking sites claiming that RBI has released new currency as legal tender.

A set of such photographs of various denomination of Indian notes and coins have been circulated round the social media with the claim that these are the new currencies released by the Reserve Bank of India (RBI). The same claim was viral last year also. The Logical Indian Fact Check team investigated the claim and announced it to be false. It even says that the currencies are not legal tender.Fact Check: Viral images of commemorative coins shared as real money is false. The policy times

(Picture taken from thelogicalindian.com)

According to RBI, the legal tender currencies are only Rs.2000, 500, 200, 100, 50, 20, and 10.  In a press release that was released last year on June 26, 2019, it was mentioned that “Presently coins of 50paise, 1/-, 2/-, 5/- and 10/- denomination of various sizes, theme and design are in circulation.” The statement in the press release further added that, “There are doubts in some quarters, regarding the genuineness of such coins which has resulted in reluctance on the part of some traders, shopkeepers and members of the public to accept coins. This has impeded the free use and circulation of coins in certain pockets of the country.”Fact Check: Viral images of commemorative coins shared as real money is false. The policy times

The Reserve Bank appealed to “members of the public not to give credence to such rumours and continue to accept these coins as legal tender in all their transactions without any hesitation.”

Are Rs.1000, Rs.125 and Rs.100 Coins Genuine?

A reverse research was done and was found that most of the coins were released as commemorative coin. Commemorative coins are released to honour personality or to celebrate a historically significant day but are not legal tender.

The Times of India report stated that an Rs.1000 coin was released as a commemorative coin in 2012 by the government to celebrate 1000 years of Brihadeeswara temple. The temple is dedicated to Lord Shiva and is located at South bank of Kaveri River in Thanjavur, Tamil Nadu. In 2016 Rs.200 coin was issued by then Culture Minister Mahesh Sharma to commemorate the Martyrdom Day of 1857 mutiny hero of Tatiya Tope. In 2011 when Pranab Mukherjee was the Finance Minister, an Rs.150 coin was issued to commemorate 150 years of Income tax Collections and again thereafter couple of times. Prime Minister Narendra Modi also issued an Rs.100 coin in the memory of former Prime Minister Atal Bihari Vajpayee. PM Modi in 2015 issued an Rs.125 coin in the memory of 125th birth anniversary of Dr. BR Ambedkar which was again in 2018 used by Vice President M Venkaiah Naidu on 29 June to mark the 125th birth anniversary of PC Mahalanobis.

Fact Check: Viral images of commemorative coins shared as real money is false. The policy times

Fact Check: Viral images of commemorative coins shared as real money is false. The policy times

(Both the pictures taken from thelogicalindian.com)

(Source: The Logical Indian Fact Check Team)

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Fact Check: Viral images of commemorative coins shared as real money is false
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Notes of Rs.2, Rs.3, Rs.350 and Rs.500, and coins of Rs.100, Rs.125 and Rs.1000 are being randomly shared over WhatsApp and other social networking sites claiming that RBI has released new currency as legal tender.
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THE POLICY TIMES
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