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Will the new Rs 2000 notes really have Micro-Nano GPS chip to Track them Buried deep into the Earth?

Apart from the colour, there are a few interesting elements that are added to the new notes. It will have a picture of Mangalyaan, Swachh Bharat logo with the slogan, and denominational numeral २००० in Devnagari

New Rs 2000 note. Yahoo

November 9, 2016: Prime Minister Narendra Modi shocked the nation as he unveiled one of the boldest steps against ‘black money’ by announcing on Tuesday that Rs 500 and Rs 1,000 notes would no longer be legal tender. He also added that it will be replaced by new Rs 500 and Rs 2000 notes.

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But, this announcement was followed by a trail of rumours on WhatsApp that said the new notes would come with micro-nano GPS chip or NGC , which will allegedly help to track individual notes with the help of the satellite.

Mainstream media, like this Zee News post, claimed, “the chip has been fitted in such a way that it can detect Rs 2000 notes even from 120 meters below the ground.”

That would have been really impressive, if it would have been true. But, it isn’t.
On Wednesday, the RBI dismissed all such rumours entirely saying that such a technology does even exist anywhere in the world.

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On Wednesday afternoon, RBI spokesperson Alpana Killawala told News18, “such a technology does not exist at the moment in the world, then how can we introduce such a feature?”

What’s new about the new notes and can they be tracked with the help of the satellites?

Apart from the colour, there are a few interesting elements that are added to the new notes. It will have a picture of Mangalyaan, Swachh Bharat logo with the slogan, and denominational numeral २००० in Devnagari.

Details about the currency does not say anything about NGC or any tracking features, which again presumably the RBI would not want people to know, even if they have had implemented such technology.

Rumours may also suggest that government may not want the citizens to know about the technology.

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Then again, even though the technology seems to be possible, how affordable it is to actually put it on the notes remain debatable.

– by Pinaz Kazi of NewsGram with inputs from various agencies. Twitter: @PinazKazi

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  • Ruchika Kumari

    I am so excited to see the new Rs 2000 notes

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PM Narendra Modi: Government bringing Stringent Consumer Protection Law

Prime Minister Modi
Prime Minister Narendra Modi during a speech. IANS

New Delhi, October 26: Prime Minister Narendra Modi on Thursday said the government was in the process of enacting stringent legislation aimed at protecting consumers along with setting up a Consumer Protection Authority (CPA).

“Consumers’ protection is this government’s priority. We are in the process to bring a new law on consumer protection keeping in mind the need of the country and business practices here,” Modi said at an International Conference on Consumer Protection for East, South and South-East Asian Countries.

“We are in the process of forming a Consumer Protection Authority, which will have executive powers, for immediate redressal.”

The rules were being streamlined to solve consumer problems in less time and at less cost, he added.

“The stress is being given on consumer empowerment. Strict provisions are being contemplated against misleading advertisements,” Modi said.

He said India was among the few countries which had enacted a law a year after the UN adopted guidelines on consumer protection in 1986.

The Prime Minister also said the prices of commodities were set to go down and consumer protection for their interest effects due to the implementation of the Goods and Services Tax (GST).

Due to the GST, the competition among companies was going to increase. So prices will go down. It will help consumers from lower middle class and poor sections,” Modi said.

“Earlier, transportation by trucks would take five days but it has come down to just three three days now as checkposts on borders have vanished after the GST. It means transportation cost has gone down. This is going to be transferred to consumers,”

Taking a dig at those opposed to the GST, he said: “Some people may be taking advantage of the lack of awareness. However, the benefits will be transferred (to consumers) in days to come.”

Talking about the conference, Modi said: “It shows how seriously we take the needs of our citizens and how we strive hard to solve their problems”.

“It is the first conference in the region, where everyone is trying in their own ways to save the interest of consumers. However, we have to keep in mind that the world is going towards a single market,” Modi said.(IANS)