8 Rumors regarding the Demonetization which you should ignore at All cost

Rumor Mongers are having the time of their life after the move of demonetization by the Modi Government. There have been many weird and shocking rumors which have come out since the move of removing old Rs 500 and 1000 notes. So much so that the Economic Affairs Secretary Shaktikanta Das had to publicly rubbish some of the claims made by such entities.

Whether the move to demonetize would be an awesome idea for the Indian Economy in the long run or not, only time will tell. In the meantime, as you stand in serpentine queues and face the initial blues, don’t let these rumors make it worse for you.

  • Traders Association and Truckers’ body calling for a nationwide strike

This is not happening. This was the news of the day, when it was being passed around the internet which led to panic buying of essential commodities.

The Confederation of All India Traders, the top traders’ body, finally put to rest the rumors on Saturday.

“We strongly reject such messages and inform that we have not called any such strike,” Praveen Khandelwal, CAIT National Secretary General said. The Transport ministry also followed with a similar statement.



  • Rs 2000 comes with a nano chip

Obviously not. Soon after the demonetization move, it was rife with rumors made by certain media channels that the new Rs 2000 note is a technology is a technological marvel with an embedded “micro nano GPS chip” so it can be traced.

However RBI Spokesperson rubbished this claim saying that the world had not yet come to see such technology.

  • Mall Looted in Seelampur in Delhi

There was some rumor mills generating stories of falsehood where it stated that due to the lack of cash among residents, certain stores were being looted in the Seelampur Area.

A related video even went viral. Similar stories were reported from other states as well.

At lease the story about the Delhi mall has been proven to be false. The Delhi police have said the whole story was a rumor.


  • Salt Selling at Rs 200 a kilo

On Friday, panic gripped parts of Uttar Pradesh following rumors of black marketing of essential commodities like salt.

People indulged in panic buying as false news spread that salt’s cost could spiral to Rs 200 or even Rs 300 a kg.

Union Minister of State for Commerce and Industry, Nirmala Sitharaman, was the first to step in to restore order.


  • Will the Rs 2000 note simply fade away

Millions of panicked customers took to the internet to figure if the new Rs 2000 note was shoddy that it bleeds when touched with water. Questions were asked such as, Is the note fake? Will it simply fade away if it becomes wet?

Various videos were posted on the Internet, people subjected the notes through various tests such as dunking in water and even washing the notes in the washing machines.

Eventually even the Economic affairs spokesperson Shaktikanta Das clarified that the notes bleeding some color is fine.

“When you rub a piece of cotton with a note, if it doesn’t leave some color, it is a sign that the note is fake.” He said.

  • Violence outside ATMs?

There are long lines outside ATMs and banks, but are people resorting to violence. The Delhi police have strongly denied such reports. There were some reports which said Delhi Police received some calls up to 4500 calls as “cash-strapped people standing in long queues outside banks and ATMs resorted to violence in Roop Nagar locality of the city”.

The Delhi police, in turn, responded to the report by refuting it.

  • Are People Dying due to Demonetization

Not all reports that quickly emerged after November 8 blaming some deaths on demonetization have proven to be true.

For example, this report said that in Mumbai, a 73-year-old man dying in an ATM queue.


This report seems to be legitimate but there’s just one discrepancy, that there is no bank location of SBI in that area.

  • Show Wedding Card and withdraw Rs 5 Lakh

Messages like this spread like wildfire, where it was said that if you give the wedding card and showed it as proof, with the help of the DSP you can remove up to 5 Lakh Rupees. But there is no such concession.