RBI Launched 1000 Rupee Coin in India Recently: Fact Check


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Image about RBI Launched 1000 Rupee Coin in India Recently
RBI Launched 1000 Rupee Coin in India Recently

Story:

Reserve Bank of India, RBI Launched 1000 Rupee Coin Recently

Other Versions

Recently, RBI has issued coins of Rs 1000 denomination.
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Image about RBI Launched 1000 Rupee Coin in India Recently

Fact Check:

Some messages creating buzz on social media allege to show Reserve Bank of India (RBI) launched 1000 Rupee Coin. They ask readers to share the ‘useful’ information with everyone. The claims as such are mixture of hoax and facts explained here.

About the 1000 Rupee Coin

The image(s) in circulation claim to show the 1000 rupees coin bearing National Emblem of India. As such RBI did not release any 1000 rupee coin for currency circulation and public use. In 2010, then Chief Minister of Tamil Nadu, M. Karunanidhi released a Rs 5-Commemorative coin when the Thanjavur temple celebrated 1,000 years of its existence. In 2012 again, the Tamil Nadu Government issued the Rs 1,000 coins in memory of the Brihadeeswara temple in Thanjavur. The video below specifically shows the 1000 rupee coin in a commemorative package.

Thousand Rupees Commemorative Coin with Image of Brihadeeswara temple in Thanjavur
Thousand Rupees Commemorative Coin with Image of Brihadeeswara temple in Thanjavur

Back in 1954, Indian government released Rs 1000 currency notes with the image of the Brihadeeswara temple. The government withdrew the high denomination notes in 1977 during crack down on black money. Likewise, in 2018 President of India Ram Nath Kovind released commemorative coins in denominations of rupees 10 and 1000 on Lord Jagannath’s Nabakalebar festival.

Old Thousand Rupees Currency Note with Image of Brihadeeswara temple in Thanjavur
Old Thousand Rupees Currency Note with Image of Brihadeeswara temple in Thanjavur

Commemorative Coins and Collection

From time to time, RBI issues such Commemorative coins – in limited edition. They are also called Sansmaran coins or Memoirs. Similarly, another popular story is about 100 rupees coin.

Indian Government Mint makes the Commemorative coins in unusual denominations like rupees 50, 75 and 150. However, they are costly because they are made from metals like Silver and Copper. They are also available online for sale. Nonetheless, they are not for public use as general currency and are not legal tender. Interested People and Numismatists buy them for the sake of collection.

Hoax or Fact:

Mixture of Hoax and Facts.


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Prashanth Damarla
Debunker

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