Demonetisation: Know the myth and reality

Here are few myths and realities regarding demonetisation that you should know.

Zee Media Bureau

New Delhi: Scoffing at rumours, the Finance Ministry on Friday said there was no move to seal bank lockers nor was it true that the ink of the new Rs 2,000 notes has been bleeding in some cases.

"Myth: Next move is to seal bank lockers and confiscate gold, diamonds and jewellery. Reality: This is baseless. There is no proposal to seal bank lockers and confiscate the jewellery," the ministry re-tweeted in its official Twitter account.

The ministry also said the Rs 2,000 notes have a safety feature, which is called "intaglio" (a design that is incised or engraved into a material).

"To identify a genuine note when you rub it against a cloth, a turbo-electric effect is generated and it is due to this that the note`s ink gets transfrred on to the cloth," the ministry said.

Here are few myths and realities that you should know

DeMonetisationMythsBusted 1

There is no government plan to demonetise Rs 100 and Rs 50 notes.

1/n #DeMonetisationMythsBusted

MYTH: #DeMonetisation of 100 and 50 rupee notes soon!

REALITY: No such intention! pic.twitter.com/dE0FVi2Owg — PIB India (@PIB_India) November 16, 2016

DeMonetisationMythsBusted 2

Demonetisation was not leaked.

2/n #DeMonetisationMythsBusted

MYTH: News of #DeMonetisation was leaked!

REALITY: Complete secrecy! pic.twitter.com/1715QB4Z0s — PIB India (@PIB_India) November 16, 2016

DeMonetisationMythsBusted 3

The real cost of demonetisation.

3/n #DeMonetisationMythsBusted

MYTH: Cost of #DeMonetisation too high

REALITY: Cost of black money is most to the common man pic.twitter.com/mT1T7qHcYV — PIB India (@PIB_India) November 16, 2016

DeMonetisationMythsBusted 4

What if people find other means to tweak demonetisation scheme?

4/n #DeMonetisationMythsBusted

MYTH: People will find other means

REALITY: Close watch, legislative changes to check black money pic.twitter.com/BYwoitJwSj — PIB India (@PIB_India) November 16, 2016

DeMonetisationMythsBusted 5

Do currency notes come with chips or GPS?

5/n #DeMonetisationMythsBusted

MYTH: Chips!

REALITY: No chips! #DeMonetisation pic.twitter.com/lxxKypCmVs — PIB India (@PIB_India) November 16, 2016

DeMonetisationMythsBusted 6

Why does the color come off?

6/n #DeMonetisationMythsBusted

MYTH: Poor quality, colour comes off!

REALITY: Don't worry! Security feature!#DeMonetisation pic.twitter.com/jeCjXVsBBS — PIB India (@PIB_India) November 16, 2016

DeMonetisationMythsBusted 7

Will govt come after gold and seal bank lockers?

7/n #DeMonetisationMythsBusted

MYTH: Next up - seal Bank lockers, freeze jewellery!

REALITY: Baseless! No such proposal!#DeMonetisation pic.twitter.com/BNBWCfQa4m — PIB India (@PIB_India) November 16, 2016

Prime Minister Narendra Modi had on November 8 surprised citizens by announcing demonetisation of 500 and 1000 rupee notes and since then large number of seemingly unending queues before banks and post offices are seen in order to exchange these currencies.