Reports of Rs 2000 carrying GPS chip as “figments of imagination,” says RBI


The Reserve Bank of India has rejected reports that the new Rs 2,000 notes to be in circulation soon will have GPS-chip that will help government track illegal money transactions.

Dismissing the report as “figments of imagination,” the RBI spokesperson Aplana Killawala told News18, “Such a technology does not exist at the moment in the world, then how can we introduce such a feature?”

Prime Minister Narendra Modi’s announcement on demonetisation of Rs 500 and Rs 1000 had caused ripples across India as people thronged ATMs, petrol pumps and grocery shops in their desperation to use as much of their unused cash as possible.

Modi, in his announcement, said that Rs 500 and Rs 1000 will become illegal from the midnight of 9 November and they will be replaced by new Rs 500 and Rs 2000 notes.

While the BJP’s political detractors such as Mamata Banerjee, CPI-M and Congress slammed Modi for his ‘draconian’ decision, his supporters in the party and media were nimble-footed in singing praises for him.

Awe struck by Modi’s supposed ‘masterstroke,’ Zee News owned by BJP Rajya Sabha MP, Subhash Chandra, went a step ahead to announce how the new Rs 2000 note will have a secret chip, which will help the central government agencies to trace the note even when it was buried under 120 meters.

The theory crafted by Zee News sounded more adventurous than even the makers of James Bond series could ever have come up with. (See below)

The social media users on Twitter had poked fun at Zee News’ report.