Relax! There's no GPS chip in new Rs 2,000 notes

There’s no denying that the new currency notes in India look visually appealing and come with enhanced security features. But they still don’t carry a GPS chip, despite what everyone is telling you on WhatsApp.

India’s finance minister Arun Jaitley today confirmed that there’s no GPS chip embedded on the new Rs 2,000 notes. Responding to the question, an irate Jaitley said, "from where did you come to know this? I haven't heard of it."

Hours before Prime Minister Narendra Modi made a surprise address to the nation and announce the new currency notes, a rumor began circulating on WhatsApp that a new Rs 2,000 note will be issued by the Indian government and it will come embedded with a nano-GPS chip. The rumor gained steam once Modi made the new Rs 2,000 notes official and also made it to many news publications as journalists scrambled to find anything they could to write about the new currency bills.

The WhatsApp rumor suggested that the "Nano GPS chip" have signal reflectors that would work even if the notes were buried at a depth of 120 meters. The move, the WhatsApp forwards suggested, were to enable the government track consignments of these notes via satellite in its bid to tackle corruption. Of course, the claims are baseless.

The new Rs 2,000 notes have gone into circulation from today and people have been busy posting their selfies with the new notes on Twitter and Facebook.

At a televised address on Tuesday evening, Modi said it was necessary to scrap existing Rs 500 and Rs 1,000 notes and introduce new notes to curb black money flow in the nation, which remain undisclosed to the government and used in terrorism activities as well as corruption. The notes are ostensibly designed in a way to prevent counterfeiting.