#Fact Check-Misleading Newspaper from Kerala stating ban on paper currency

Research Wing
Research Wing
Innovation and Research
PUBLISHED ON
Feb 16, 2025
10

Executive Summary:

Recently, our team came across a widely circulated post on X (formerly Twitter), claiming that the Indian government would abolish paper currency from February 1 and transition entirely to digital money. The post, designed to resemble an official government notice, cited the absence of advertisements in Kerala newspapers as supposed evidence—an assertion that lacked any substantive basis

Claim:

The Indian government will ban paper currency from February 1, 2025, and adopt digital money as the sole legal tender to fight black money.

Post Link

Fact Check:

The claim that the Indian government will ban paper currency and transition entirely to digital money from February 1 is completely baseless and lacks any credible foundation. Neither the government nor the Reserve Bank of India (RBI) has made any official announcement supporting this assertion.

Furthermore, the supposed evidence—the absence of specific advertisements in Kerala newspapers—has been misinterpreted and holds no connection to any policy decisions regarding currency

During our research, we found that this was the prediction of what the newspaper from the year 2050 would look like and was not a statement that the notes will be banned and will be shifted to digital currency.

Such a massive change would necessitate clear communication to the public, major infrastructure improvements, and precise policy announcements which have not happened. This false rumor has widely spread on social media without even a shred of evidence from its source, which has been unreliable and is hence completely false.

We also found a clip from a news channel to support our research by asianetnews on Instagram. 

We found that the event will be held in Jain Deemed-to-be University, Kochi from 25th January to 1st February. After this advertisement went viral and people began criticizing it, the director of "The Summit of Future 2025" apologized for this confusion. According to him, it was a fictional future news story with a disclaimer, which was misread by some of its readers.

The X handle of Summit of Future 2025 also posted a video of the official statement from Dr Tom.

Conclusion:

The claim that the Indian government will discontinue paper currency by February 1 and resort to full digital money is entirely false. There's no government announcement nor any evidence to support it. We would like to urge everyone to refer to standard sources for accurate information and be aware to avoid misinformation online.

  • Claim: India to ban paper currency from February 1, switching to digital money.
  • Claimed On: X (Formerly Known As Twitter)
  • Fact Check: False and Misleading
PUBLISHED ON
Feb 16, 2025
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#FactCheck
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