The Indian Prime Minister, Mr Narendra Modi made a huge announcement of banning the current ₹500 and ₹1,000 notes yesterday. This move was taken in order to curb the currency counterfeiting and to strike a huge blow on the hoarded black money reserves in the country. The old ₹500 and ₹1,000 notes won’t anymore be legal tender from November 11th, 2016 and instead new ₹500 and ₹2,000 notes will be issued soon. This is a very bold move by the government and is indeed praiseworthy. The Government has made sure that the transition from the old notes to new notes is smooth and less cumbersome and as Mr Modi said that any Indian would be more than happy to suffer a little inconvenience for a couple of days if it helps in ending corruption and putting a reign over black money reserves.
While the move is receiving accolades from all corners, the pictures of the new ₹500 and ₹2,000 notes have already started doing rounds on the social media. A very popular message has been doing rounds on various social media that the new ₹2,000 notes will have location trackers in the form of embedded Nano GPS Chips (NGC). The whole message read like this:
*why RBI is issuing ₹2000 Rupees Notes *
The Rs 2000 currency is designed keeping in mind to eradicate the black money issues using state of the art indigenous nano technology, every Rs. 2000 currency note is embedded with a NGC (Nano GPS Chip)
How the embeded NGC Technology Works?
The unique feature of the NGC is it dosent need any power source. It only acts as a signal reflector. When a Satellite sends a signal requesting location the NGC reflects back the signal from the location, giving precise location coordinates, and the serial number of the currency back to the satellite, this way every NGC embedded currency can be easily tracked & located even if it is kept 120 meters below ground level. The NGC cant be tampered with or removed without damaging the currency note.
While we’re wondering whether this was true or note, RBI released a Press note stating detailed features of the new ₹500 and ₹2,000 notes. RBI explained the new magenta colour based design of the ₹2,000 notes and has also explained the basic features of the new currency notes so that you can identify the genuine notes from the counterfeit ones. Here’re the details:
RBI issues ₹2000 note in new series pic.twitter.com/7Ob2j1t6Ab
— ReserveBankOfIndia (@RBI) November 8, 2016
We went through the press note thoroughly, but nothing was mentioned about the Nano GPS chips or the location tracking features of the new ₹2,000 notes. So, we’ve to conclude that as much interesting and alluring that it might have sound, but the news of the Nano GPS trackers on the ₹2,000 notes seems to be a rumour or hoax. However, since the Government or the RBI is yet to refute these claims, you never know!!!!!!