YouTube revives demonetisation debate in India

Prashant Kapoor, an astrologer who runs the AstroKapoor YouTube channel, published a livestream on May 16 titled “Demonetisation Again in India? | फिर होगी नोटबंदी?” and framed it around the possibility of another sudden currency move in India. The YouTube listing says the live session offered “astrology-based insights” on “possible policy shifts” and asked whether there could be “another unexpected move related to currency, banking, cash flow, or the rupee.” The video was still available on Kapoor’s channel on Sunday, May 17, according to YouTube search results. Those results showed the title, the channel identity and a short description, but not a transcript in the search snippet. ### What exactly did the YouTube video claim? The May 16 YouTube description did not present a government order or Reserve Bank of India announcement. (youtube.com) Instead, it described the session as Kapoor’s “astrology-based insights” into “sudden economic decisions” and “possible policy shifts,” and asked viewers whether India could see another move affecting currency or banking. Prashant Kapoor’s broader channel branding identifies him as a financial and mundane astrologer, and the AstroKapoor channel says it operates under his guidance. Another Kapoor video indexed in search results promoted “2026 predictions” touching tax, cyber-fraud and banking changes, placing the demonetisation livestream within a larger stream of forecast-style content rather than an official policy disclosure. (youtube.com) ### Is there any official sign of a fresh demonetisation move? RBI records available on May 17 showed ₹500 notes remained in wide circulation. The central bank’s currency data for the week ended May 8 listed 723,167 lakh pieces of ₹500 notes, with a value of ₹36,15,833 crore. The Reserve Bank’s public FAQ says the notes that lost legal-tender status in the 2016 demonetisation were the old ₹500 and ₹1,000 notes of the Mahatma Gandhi series issued up to November 8, 2016. (youtube.com) The same RBI material says ₹2,000 notes continue to be legal tender, even after the 2023 withdrawal-from-circulation exercise. ### Why does the title resonate so quickly in India? (rbi.org.in) November 8, 2016 remains one of India’s most disruptive monetary events. RBI instructions issued that day said existing ₹500 and ₹1,000 banknotes would cease to be legal tender under a government notification. The Supreme Court of India later upheld that 2016 decision. A five-judge Constitution Bench, by a 4:1 majority on January 2, 2023, upheld the validity of the demonetisation scheme, according to the court-tracking summary and contemporaneous reporting. (rbi.org.in) ### Have similar currency rumours surfaced before? Government fact-check channels and Indian media have previously addressed false or misleading claims about high-value notes. (rbi.org.in) PIB’s fact-check portal remains active, and earlier reporting in 2025 said the government rejected a viral YouTube claim that ₹500 notes would be withdrawn by 2026. The earlier rumour focused on a supposed phase-out schedule for ₹500 notes through ATMs. (scobserver.in) Business Standard and NDTV reported that the government said no such RBI announcement had been made and that ₹500 notes remained legal tender. ### Where should viewers check instead of relying on a viral livestream title? (pib.gov.in) The Reserve Bank of India publishes current currency-in-circulation tables on its website, including denomination-wise data updated by reporting week. The RBI’s public FAQ pages also state which notes are legal tender and which were affected by the 2016 note ban. PIB’s fact-check page is another official channel for rebutting viral claims tied to government policy. (business-standard.com) As of May 17, the Kapoor video remained on YouTube, while the latest publicly available RBI currency table and RBI FAQ continued to show ₹500 notes in circulation and no fresh demonetisation notice. (pib.gov.in) (rbi.org.in)