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Friday, November 11, 2016
RBI’s new Rs 2000 note has no GPS-nano chip, contrary to rumours
The new RBI Rs 2000 note to come with Nano-GPS chip: This rumour is totally false and baseless.
The government of India has demonetised the current Rs 500 and Rs 1000 notes, but it plans to replace these with new Rs 500 and Rs 2000 notes. However, rumours are spreading about the upcoming Rs 2000 note, with messages being circulated on WhatsApp which claim the new higher denomination currency comes with a Nano-GPS chip installed on it.
The message claims these notes are embedded with Nano-GPS chips which act as a signal reflector, giving precise location coordinates of the currency in order to allow every note to be tracked. Apparently the chip is so strong that one can track these Rs 2000 notes even if they are kept 120 metres below the ground level, according to the message.
It also claims the chip will also help identify if too many of these notes are kept in one place and alert the relevant authorities. Thus the government’s new note will help curb corruption and discourage people from hoarding black money. Except if you read the message, you can figure out this is a hoax.
Grammatical mistakes aside, the RBI’s own description for the Rs 2000 note does not mention this magnificent chip anywhere. Also at the press conference, this question was raised about the supposed GPS chip in these Rs 2000 notes and the so-called security measures. The RBI officials had dismissed these as false.
One of the messages which has been shared with us reads like this. Note we’ve left the message as it, and not edited it for grammar.
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
How will this help eradicate black money menace?
Since every NGC embeded currency can be tracked. The satellite can identify the exact amount of money stored at a certain location. If a relatively high concentration of currency is found a certain location for a longer period of time at suspicious locations other than banks & other financial institutions. The information will be passed on to the Income Tax Department for further investigation
Just a beginning of the end of black money in India.
WhatsApp was where these messages were circulating, even before demonetisation was officially announced by the government. On Twitter too, some tweets have been shared with these claims, although quite a few people have been making jokes about the so called GPS claim.
The new Rs 2000 note does come with a motif of Mangalayan on the back, and it has special features for the visually impaired as well. But Nano-GPS chip is nowhere close to the truth.