After the recent declaration by the twitter on what appears to be the new 2000 denomination Indian Rupee the RBI has finally released some official pictures of the 2000 Rupee note and what appears to be a new 500 Rupee note.
After being announced by the Prime Minister of India Mr. Narendra Modi on the night of the 8th November 2016, the 500 and 1000 Rupee notes were banned and announced they’d just be plain paper by the morning of November 9th, 2016. Citizens possessing 500 and 1000 Rupee notes are said to exchange them to 100 Rupee notes starting from the 9th of November, 2016. They should exchange all their currency on or before December 31, 2016 after which they’re still allowed to exchange them till March 31,2016 by issuing a valid ID proof. There has been no news regarding about what the Government of India plans to do with possessors of 500 and 1000 denomination Rupee notes.
This sudden ban on the currently highest denominations is a pain for black money hoarders and is said to be ‘A Surgical Strike on Black Money’ by experts. Though this has caused an unrest among common citizens this is one effective strategy by The Hon’b Prime Minister of India.
However what comes as an added surprise to the citizens is some people running wild about how the new notes will be using state of the art indigenous nanotechnology (Nano GPS Chip) for the Rs 2000 notes. People have taken to the social media about the RBI including a nano chip inside the 2000 Rupee note being included a nano chip. ‘ The chip would be helpful in detecting the storehouse of black money’.
HOWEVER, EXPERTS REVEAL THAT SUCH TECHNOLOGY RUMORED TO BE INSIDE IS NEARLY IMPOSSIBLE.
This is what you would have read.
RBI to issue ₹2000 Rupees Notes coming February 2017India is all set to add one more denomination to its currencies shortly. The Reserve Bank of India (RBI) will be issuing Rs 2,000 currency notes, the highest to come into circulation, even as some experts feel7 high-value denominations should be discontinued to curb black money.
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 embedded NGC Technology Works? The unique feature of the NGC is it doesn’t 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 embedded 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
Here’s what RBI says about the new denominations. You could check it out yourselves. Not much is mentioned about the new chip that is to be installed with every note.