This was supposed to be one of the biggest news for banking sector, financial institutions and the common man – because it involved India’s largest currency denomination, Rs 2000 a.k.a 2000 ka note. Way back in 1938, and then again in 1954, then Governments introduced currency denomination of Rs 10,000 which was later put out of circulation in 1946 and 1978 respectively. If we leave aside Rs 10,000 currency, then Rs 2000 would be the largest denomination in the history of India.
Soon after reports emerged that Rs 2000 currency notes a.k.a 2000 ka note would be introduced by RBI, another set of rumors emerged that these notes would be embedded with nano-GPS chips which can be traced all over the world. Is this news hoax? We will try to find out the truth –
What is NGC?
This theory cannot be put aside all-together. World’s smallest fully integrated GPS receiver has been developed by OriginGPS Nano Spider, which measures 4x4x2.1mm. Comparably, this device is smaller than a pencil lead, and can open a new avenue of wearable devices – now this chip can track clothes, watches, electronic appliances and more. But stating that a NGC can track a currency note, is a bit too far fetched. At a fare estimate, such a device would cost atleast Rs 50 to manufacture, and if Govt. embed every currency note of Rs 2000, then the total costs involved would be too high to even consider the plan.
Viral on Social Media
As per the report by the Hindu, currency printing press in Mysuru has already printed the first lot, and it has been dispatched to RBI headquarters for country-wide distribution. Soon, this report by picked by social media, and images of the new Rs 2000 currency notes went viral. Soon, Twitter was too equipped with images of these notes – a unique shade of pink and white with a new design. It also spread like wild fire among WhatsApp users, everyone was circulating the Rs. 2000 currency note images. Interestingly, it is not just one image, but a number of different ones have been circulating on Social Media as well as similar messengers.
1 st in india
₹ 2000, New Note Relise By Reserve Bank of India pic.twitter.com/AmoHYmfKEJ
— 9 TH MARCH 6 PM ANOTHER SURPRISE #NSNI (@allusaiharsha) November 5, 2016
— Sanjeev Kamboj 🇮🇳 (@kambojOffice) November 6, 2016
Rs 2000 Currency Note With Nano GPS Chip – Hoax or Not?
After a day of the stories regarding Rs 2000 currency notes, a new theory started being shared across social media: The new notes are loaded with nano-GPS chips (NGC) which will enable the Govt. to easily track these notes, hence controlling black money transactions. As per the rumors, NGC chips are actually ‘signal-reflectors’ which would help satellites to track the location of the notes – even if they are ‘120 meters’ below ground level. The logic is that, the satellites will track heavy accumulation of such NGC enabled notes, and will take immediate action to track and seize such money (assuming they are black money)
Hence, according to us, we would term this theory as another rumor, which has been attributed to an ongoing rumor of Rs 2000 currency note. As we shared earlier, until and unless Govt. and RBI comes out with an official announcement, we would consider both of these theories as rumor. Do pour your views in the comment section below!