Prime Minister of Andra State Pradesh N. Chandababo Naido to cancel the notes of 500 rupees, prompting the debate about the high -value currency and corruption.
In an exclusive interview with India today, Naido said, “All large currencies must be canceled. Only then we can eliminate corruption.”
“There should be notes with currency below 100 rupees and 200 rupees. It should last up to 500 rupees in the notes,” Naido said.
Naido’s comments echoed the controversial demonization campaign for 2016, when Prime Minister Narendra Modi banned 500 rupees and 1000 rupees to reduce black money and fake currency. The current RS 500 notes are presented shortly after a period, which features a stone gray color and the red fortress.
His remarks arrive in a viral video on YouTube that claims that the government will circulate 500 rupees starting in March 2026. The video, which was published by a channel called “Capital TV” on June 2, received more than 500,000 views and anxiety from the general concern.
The center quickly exposed the video. “The observations have not been stopped 500 rupees and a legal tender remained,” the Information Office verification department explained in a post on X. Urging citizens to verify the news through official sources.
On luxury policies, Naido distanced himself from the term “free gifts”, linking social plans with inheritance and necessity. “One of the things we have to understand: Earlier there was not much luxury. NTR has announced many benefits … This is the way the luxury began. Now the wealth is created … but the gap between Haves and Have-Nots expands.”
He added: “The luxury must be meaningful and the delivery should be effective.”
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