This was supposed to be one of the biggest news for banking sector, financial institutions and the common man – because it involved India’s largest currency denomination, Rs 2000.
Way back in 1938, and then again in 1954, then Governments introduced currency denomination of Rs 10,000 which was later put out of circulation in 1946 and 1978 respectively. If we leave aside Rs 10,000 currency, then Rs 2000 would be the largest denomination in the history of India.
Soon after reports emerged that Rs 2000 currency notes would be introduced by RBI, another set of rumors emerged that these notes would be embedded with nano-GPS chips which can be traced all over the world.[wp_ad_camp_3]
Is this news hoax? We will try to find out the truth..
Rs 2000 Currency Notes In India – Facts and Fiction
The Hindu published the first available report of Rs 2000 currency being printed, and about to be launched by RBI.
As per their report, currency printing press in Mysuru has already printed the first lot, and it has been dispatched to RBI headquarters for country-wide distribution.
Soon, this report by picked by social media, and images of the new Rs 2000 currency notes started to circulate. Soon, Twitter was abuzz with images of leaked notes- a unique shade of pink and white with a new design.
It also spread like wild fire among WhatsApp users – everyone was circulating the Rs. 2000 currency note images. Interestingly, it is not just one image, but a number of different ones have been circulating on Social Media as well as Instant messengers.
1 st in india
? 2000, New Note Relise By Reserve Bank of India pic.twitter.com/AmoHYmfKEJ
— My love is gone (@allusaiharsha) November 5, 2016
New 2000 Rupees notes, will be available in a fortnight’s time
Aur yaha 1000 ka note jeb mein aye arsa ho gaya pic.twitter.com/JJaWog4cFI
— Mohit Gulati (@desimojito) November 5, 2016
— Sanjeev Kamboj (@kambojOffice) November 6, 2016
Some analysts described this move as a mistake, considering that such huge denomination of currency will encourage more cash transactions and black money market can thrive under such scenario. This goes completely opposite to what Govt has been trying since last few months – encouraging cashless economy
In fact, at a time when RBI has capped ATM withdrawls because they want to encourage cashless economy, this move seems like a mistake.
However, another set of views describe this step as a masterstroke, as it takes only Rs 3 to print a Rs 1000 notes, and it would take even lesser to print a Rs 2000 note. Lower the denomination, higher are the costs involved in printing them.
Hence, in proportion to the cost involved in printing money, Rs 2000 notes would be the best one.
As of March, 2016, total of Rs 16,41,500 lakh crore worth of currency notes are in circulation in India, with Rs 500 and Rs 1000 accounting for 86% of the total value of the notes.
Fact Check: There has been no official confirmation till date from RBI or Govt. regarding the printing of Rs 2000 currency notes. Considering that it’s an important news, it is indeed surprising that there has been no confirmation. In such a case, we can assume this story to be a rumor, until and unless RBI confirms it.
Nano-GPS Chips in Rs 2000 Notes: Facts and Fiction
After a day of the stories regarding Rs 2000 currency notes, a new theory started being shared across social media: The new notes are loaded with a Fingerprint ensor which will make sure that no one else except you spends your 2000 bucks.It will even have a 16 megapixel Dual camera setup with Quad HD Display and not only this but if You will Try to Use this Notes in Something Wrong or in Corruption than Gandhi Ji will COME OUT FROM NOTE AND WILL SLAP YOU ![wp_ad_camp_3]
.We woould Like to tell you that there will be nothing like this on the new Notes in case you didn’t get above SARCASM as Nothing Like this is possible . This are all just another FAKE RUMORS.
Source : Trak.in