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Is There A GPS Chip In The New Currency Note?

Prime Minister Narendra Modi-led government has recently announced the scrapping of the old high value currency notes. While some people welcome this move, some other are totally against it. Besides, there is another category of people who are spreading rumors. Amid all the chaos, a rumor has surfaced claiming that there is a GPS chip in the new currency note. Let’s find out if the new currency notes will have a GPS chip installed in them or not.

Is There A GPS Chip In The New Currency Note?

A message is being circulated on WhatsApp claiming that the new Rs 2000 note will be embedded with a nano-GPS chip. As per that message, the new currency note will come with a nano-GPS chip installed into it which will work as a signal reflector. It will give the location coordinates of the currency so that it can be tracked. The message claims that the GPS chip installed in the new currency note is so strong that it can locate a note even if it is kept 120 metres below the ground level.

This message is nothing but a hoax. It makes no sense that the new currency notes will have a GPS chip installed in them. RBI’s official release about the new currency note has no mention of GPS chip or any other tracking feature. Had there been such technology embedded in the new notes,the  government would have announced the same as it makes no sense that such information would be kept hidden.

We request you to cease this message from spreading further as RBI has clearly denied the rumors and there is no GPS chip in the new currency note. You can communicate the same to your friends and family. You must not to blindly trust every message that you receive. Be patient and confirm every news that you hear before going further.

Here is one of the messages which is going viral on WhatsApp:

Why RBI is issuing Rs 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

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

Also Read: How Rs 500, Rs 1000 Notes Ban Will Impact The Economy

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