Andhra Pradesh Chief Minister N. Chandrababu Naidu has called for the abolition of Rs 500 notes, reigniting debate over high-value currency and corruption.
In an exclusive interview with India Today, Naidu said, “All big currencies should be abolished. Only then can we eradicate corruption.”
“Only currency notes under Rs 100 and Rs 200 should be there. Not even Rs 500 notes should be continued,” Naidu said.
Naidu’s comments echo the controversial demonetisation drive of 2016, when Prime Minister Narendra Modi banned old Rs 500 and Rs 1,000 notes to curb black money and counterfeit currency. The current Rs 500 notes were introduced shortly after, featuring a stone-grey color and the Red Fort motif.
His remarks arrive amid a viral YouTube video claiming the government will phase out Rs 500 notes starting March 2026. The video, posted by a channel named ‘Capital TV’ on June 2, garnered over 500,000 views and spurred public anxiety.
The Centre swiftly debunked the video. “Rs 500 notes have NOT been discontinued and remain legal tender,” the Press Information Bureau’s Fact Check division clarified in a post on X. It urged citizens to verify news through official sources.
On welfare policies, Naidu distanced himself from the term “freebies,” linking social schemes to legacy and necessity. “One thing we have to understand: earlier there was not much welfare. NTR announced several benefits… that’s how welfare started. Now wealth is being created… but the gap between haves and have-nots is widening.”
“Welfare should be meaningful and delivery should be efficient,” he added.
