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From chip rumour to withdrawal of Rs 2,000 - A look back to incidents related to demonetisation

Rs 2,000 notes to be withdrawn: The demonetisation witnessed a number of stories some of them were hilarious while others were heart-rending.

Raju Kumar Written By: Raju Kumar @rajudelhi123 New Delhi Updated on: May 20, 2023 6:21 IST
Demonetisation in 2016 triggered huge panic among people
Image Source : INDIA TV Demonetisation in 2016 triggered huge panic among people

Rs 2000 withdrawal: The sudden announcement by the Reserve Bank of India on Friday about the withdrawal of Rs 2,000 currency notes from circulation by September 30 sends us into a flashback when almost everyone found standing in front of banks or ATMs. The impact of the government's decision was so huge that it affected almost every citizen in India. Subsequently, everyone would have some sweet and sour memories related to the shocking announcment by Prime Minister Narendra Modi at around at 8 PM on November 8, 2016. His declaration that at 86% of the value of all currency- in 500 and 1,000 rupee notes in circulation would cease to exist as legal tender. The move was termed demonetisation.

The sudden announcement created huge outrage and panic-stricken people gathered outside ATMs and Banks across the nation. 

Here are some major incidents related to note ban which are still vivid in our memories:

Rumor about GPS Chip in the notes: This was the funniest part of the demonetisation as some social media reports claim that there was a spy chip inbuilt into the Rs 2,000 notes. The authorities immediately rejected all the rumors. However, it remained in talks in the public domain for a long time.

Baby's name: In a shocking incident, a woman- Sarvesha Devi- gave birth to a baby while she was standing in a bank queue to withdraw money on December 2, 2016. She named her baby 'Khazanchi Nath' which means 'treasurer'. SP chief Akhilesh Yadav met the baby and made him the face of the protest against the RBI's move. Yadav also gave Rs 2 lakh and a house to the boy’s mother. He celebrates Khazanchi’s birthday every year on 8 November, the anniversary of demonetisation.

Cheapest wedding: Two families from Gujarat's Surat decided to arrange the cheapest wedding event in November 2016 owing to a cash crunch due to demonetisation. The couple got married with just Rs 500 wedding budget.

Woman goes topless: In a shocking incident, an angry woman after being unable to get a few junked currency notes exchanged, stripped her top in front of the RBI regional office, Delhi in January 2017. The woman, who was with her child, was turned away by the guards at the gate. The helpless woman started crying and removed her clothes in protest.

Also read- RBI to withdraw Rs 2,000 currency note from circulation but it will continue to be legal tender

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