De Monitisation, fight against corruption and black money begins

New Delhi, November 9: India is getting ready to a new big leap towards its economic growth. When Prime Minister Narendra Modi declared a sudden action on the Indian economy, India literally jolted. Moreover, the custodians of unlimited hidden money cannot use that form today on wards.

Fake notes issuing agencies like Pakistan and ISIS cannot interrupt in the Indian economy with their foul play. The big leap by Narendra Modi would surely result in a drastic change in the country’s economic growth. RBI will shortly introduce new currencies including one new denomination of Rs. 2000.

On the grounds if this change, certain hoax is spreading that, the Rs 2000 currency would be made with a GPS chip. The possibilities of nano technology is extensively used in the production of the new Rs. 2000 currency note, which is embedded with a NGC (Nano GPS Chip), says the latest hoax.

What is Embeded NGC Technology and how it works?

“Its an Integrated Circuit Chip which works which do not need power supply to function. The Chip also has embedded technology in it. It could be simply explained as an integrated circuit with built in interfaces to perform certain functions. The GPS helps to find location by radio frequency signal, as each IC has a unique number, which helps to be tracked”, says Mr. Ratheesh C, Assistant Professor, Department of Electronics and Communication, Calicut University Institute of Science and Technology.

“An embedded system is a computer system with a dedicated function within a larger mechanical or electrical system, often with real-time computing constraints. It is embedded as part of a complete device often including hardware and mechanical parts. Embedded systems control many devices in common use today” he added.

According to certain rumours, NGC chips are ‘signal-reflectors’ which would help satellites to track the location of the notes – even if they are ‘120 meters’ down in the earth. As a result, satellites will track accumulation of such NGC enabled notes, and will take immediate action on such dumped money.

The smallest fully integrated GPS receiver has been developed by OriginGPS Nano Spider. This measures 4x4x2.1mm in size. The small size make it able to be installed in wearable devices.

Such a device would cost at least Rs 50 for its production. If every currency note of Rs 2000 has to have this technology, the total costs involved would be too high which makes the Government unable to implement it or even consider the plan.