Nano GPS chip - Rs 2000 note with the GPS chip

Nano GPS chip that can help track the exact location of the note via a satellite.

With the Prime Minister Narendra Modi scrapping the Rs 500, Rs 1000 notes on Tuesday in a move to fight against black money, the RBI unveiled the new Rs 500 and Rs 2000 notes to replace them.

Now, the interesting thing is, as per reports, the new Rs 2000 notes are embedded with a micro Nano GPS chip which will help locate the position of the currency via a satellite.

The first of its kind and definitely a major blow to black money hoarders, the GSP chip will act as a tracker and help locate the exact location of the currency via a satellite.

According to reports, the chip has been fitted in such a way that it can detect Rs 2000 notes even from 120 meters below the ground.

Reports furhter states that if one tries to tamper the nano GPS chip, the Rs 2000 will become damaged and unusable.

So, with the new Rs 2000 note with the GPS chip help in the fight against black money? Only time can tell.

Prime Minister Narendra Modi announced on Tuesday 500 and 1000 rupee notes are being demonetised, and they will be replaced by new notes of 500 and 2000 rupee denominations. RBI has released images and some details about the new 2000 rupees and 500 rupee notes, but even before PM Modi's announcement there were forwards going around on WhatsApp talking about the 2000 rupees note having a 'nano GPS chip' - aka NGC - that can be used to track the notes from anywhere.

We treated these forwards with a healthy doubt of scepticism, and with RBI having released many details of the 2000 rupees note and the so-called nano GPS chip finding no mention therein, it's safe to say that those forwards are a hoax. Here's a sample message that some of you may have seen:

RBI to issue ₹2000 Rupees Notes coming February 2017

India 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

Just to reiterate, everything you read above is unofficial, and almost everything is a hoax. We can barely get a GPS signal indoors, and if you believe the forward, the RBI has packed every single 2000 rupees note with a wafer-thin nano GPS chip that can get a signal even "120 metres below ground level", which makes absolutely no sense. Not to mention the only chips that can be powered by a 'reflective signal' - like RFID chips - can transmit data only over very short distances, and not across hundreds of thousands of kilometres like the forward suggests.