Why RBI issuing Rs.2000 Rupees Notes?

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Reserve bank of India has just announced new 2000 rupees note. On 8th October 2016, Prime minister Narendra Modi has announced a new rs.2000 letter “R” series of bank notes. These note will be released publicly from 11 November 2016. This decision has taken by Indian RBI Governor Mr. Urjit R. Patel.

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).

  1. Nano GPS Technology: The rs. 2000 note has nano GPS system which enable tracking of this note with some frequency range. This may be a rumor, however i will confirm that later.
  2. Durable Paper Quality: Unlike other denomination older notes, this note has better durability. This note can easily survive for several years.
  3. Unique Designs: The new rs.2000 banknotes are different from the earlier specified bank note (SBN) series in colour, size, theme, location of security features and design elements.

How the embeded NGC Technology Works?
The unique feature of the NGC is it dosent 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 embeded 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.