Arun Jaitley dismisses rumours of nano GPS chip on Rs 2000 note

Zee Media Bureau

New Delhi: Finance Minister Arun Jaitley on Wednesday cleared all air surrounding the reports of a nano GPS chip in the newly launched Rs 2000 notes.

Addressing the media in the aftermath of the demonetisation of the Rs 500 and Rs 1000 notes, Jaitley said described the news of nano chips in Rs 2000 notes at bogus.

"From where did you come to know this? I haven`t heard of it," Jaitley said when asked if the Rs 2,000 currency note, being issued by the government, had a chip to enable its satellite tracking.

Following the demonetisation of Rs 500 and Rs 1000 notes by Prime Minister Narendra Modi Tuesday night, the Reserve Bank of India unveiled new Rs 500 and Rs 2000 notes.

As per various reports, the new Rs 2000 note was rumoured to be embedded with a nano GPS Chip which could help track the exact location of the new rupee via a satellite.

It was deemed as a step to help curb black money and caught the attention of the public.

However, latest reports suggest that there is no such nano chip in the Rs 2000 note.