GPS tracking chip in New INR 2000 note is a hoax: Arun Jaitley

Finance Minister has negated the rumors of INR 2000 being installed with a gps tracking chip so that government can track the piles of notes even if it is buried 120 under the ground. RBI has published new currency notes of 2000 and 500.


(Src: By The TeCake Staff -Nov 13, 2016) The recent ban on 500 and 1000 currency Notes imposed by the decision of Indian National Government has emerged as one of the drastic changeovers in the Indian economy. With the cooperation of RBI (Reserve Bank of India), the Honourable Prime Minister of India Mr Narendra Modi has been able to introduce a potential measure to tackle the issues of Black marketing and counterfeit notes.

This initiative comes as a promise for the lower, middle, and neo-middle classes of the Indian population owing to the accessible prices of healthcare, education, and real-estate. The big news is always associated with petty rumours and the most profoundly circulated rumour regarding the new currency notes was a “GPS Tracking Chip’ in the 2000 rupees Note. However, RBI has refused this suggestion and has been validated by an official statement from the Finance Minister of India, Mr Arun Jaitley.

To demonetise the ban of 500 and 1000 notes, RBI has published new currency notes of 2000 and 500. But surprisingly, the notes without any official announcement are alleged to have GPS tracking chips which can track the notes even if they are 120 meters under the ground level. Since past two days, this types of rumours associated with the new 2000 notes has taken the entire nation and economy sector by storm. However, on Wednesday, Indian Finance Minister Arun Jaitley confirmed that ‘the new Rs. 2000 note is not integrated with GPS tracking chip’.

Answering to the question of a journalist on Wednesday, Arun Jaitley expressed his overwhelm about the GPS chips in 2000 notes and confirmed that, RBI’s 2000 notes ahs no hidden GPS chip.

A WhatsApp forwarded message which began circulating the announcement of PM Modi afterwards to boycott the Rs 500 and Rs 1000 notes. The forwarded message contains the information about all Rs 2000 notes to be embedded NGC technology for tracking the notes. The message also stated that the new 2000 notes have a chip that will enable it to be tracked via satellites.

However, Arun Jaitley, at the Wednesday Press meet refuted such types of buzzes and verified the 2000 notes not to contain any GPS chip.