Demonetisation
News / Demonetisation
While NGC in notes is exciting, the technology does not exist at the moment.
TNM Staff| Wednesday, November 9, 2016 - 18:22

Reserve Bank of India put an end to rumours of the inclusion of a nano GPS chip in the new Rs 2000 note.

RBI rubbished reports of the technology, with its spokesperson Aplana Killawala telling News18, “Such a technology does not exist at the moment in the world, then how can we introduce such a feature?”

Rumours about the inclusion of the tracking chip went viral, hours after Prime Minister Narendra Modi surprise announcement, demonetising Rs 500 and Rs 1000 notes, and announcing new Rs 500 and Rs 2000 notes.

On Wednesday, RBI said that Rs 2000 note will come into circulation from November 10, 2016. 

The website quoted the RBI official stating that the security features of the Rs. 2,000 note are mentioned in its website. 

According RBI's specifications, there will be a latent image with the denominational numeral 2000, which can be seen when the bank note is held at a 45-degree angle. 

For the visually-impaired, there will a raised print of Mahatma Gandhi's portrait, the Ashoka Pillar emblem, bleed lines and identity marks.

The note will have a motif of the Mangalayan, India's Mars mission and the base colour is magenta.

The Rs 2000 note specimen released by RBI on Twitter also does not mention anything about the chip.