For making India corruption free, Prime Minister Narendra Modi move of eliminating Rs 500 and Rs1000 currency notes has brought revolution. Soon Reserve Bank of India (RBI) will be issuing the most advanced RS 2000 Notes that never happened in the India’s history ever and highest to come into circulation. The vital aspect of these notes is embedded with a nano chip that assists in finding out those who will stock illegally. Although, some experts feel high-value denominations should be discontinued but the majority is in the favor of Modi.
Let’s have a glance at important aspects of Rs 2000 Note and how it will beneficial to curb black money?
As per the information, 2000rs Notes entrenched with Nano GPS Chip technology. These notes are specially designed keeping in mind to wipe out the black money with an (NGC GPS Chip). The most advanced and unique feature is NGC that will reduce the annoyance of the agencies that nab black money stockiest. The signal reflector in the note helps to find out the concealed money.
The chip will be connected to the satellite which will send a signal to request the location; The NGC on this Rs 2000 note reflects back the signal from the location giving accurate location coordinates and the serial number of the currency back to the satellite. And the people can easily track their money embedded with the NGC chip from 120 meters below ground level. It can’t e removed or tampered without damaging the currency note.
How a Chip help to exterminate the black money?
Because every NGC embedded currency can be tracked. The satellite can identify the exact amount of money stored at a particular location. If a high concentration of currency is found a certain location for a longer period of time at the suspicious place except for Banks and other financial institutions. The information will be passed on to the Income Tax Department for further investigation.
Will the strategy of Modi help BJP to come back in the UP and Punjab?
Some experts are predicting that this is a PM Narendra Modi’s strategy viewing election ahead in UP and Punjab and it will surely give benefit to BJP in the form of votes. If the strategy is fruitful to expose back hoarders as leaders in the UP or Punjab then nobody can impede BJP to attain victory. Although, opposition is against the step and claiming that black money cannot be curbed even after practicing this move, after announcing Modi that the notes of RS 500 and Rs 1000 would be replaced with RS 2000 Notes, more than 15 lack crore rupees have been exposed throughout the country on late Tuesday.