The Reserve Bank of India or RBI has said reports that it is planning to launch a Rs 5,000 note is a hoax.
Micro-blogging site Twitter was abuzz on Monday morning with people discussing that such a launch was slated on Tuesday. Many also later said it seemed like a "badly photoshopped Rs 1,000 note".
RBI's spokesperson told NDTV, "There are no such plans. We don't know how the rumour started."
It could not be immediately ascertained how the rumour began. Some reports suggested it was first circulated through free phone messaging app WhatsApp.
Rs 5,000 notes were once in circulation, according to the RBI website. In the 1950s, high denomination notes- Rs 1,000, Rs 5,000 and Rs 10,000 were printed, but were later taken out of circulation.
"The lean period of the early sixties led to considerations of economy and the sizes of notes were reduced in 1967," the RBI says on its website.
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