Reason Behind the Release of New Rs.2000 note
On 10th November, 2016 our honorable Prime minister Narendra Modi announced that Rs.500 and Rs.1000 notes will be withdrawn from the midnight and those notes are no more money but a piece of paper.
After complete eviction of Rs. 500 and 1000 notes from the financial system, new Rs.500 and Rs.200 sheet(notes) will be introduced by Reserve Bank of India. These notes are designed to completely destroy black money issues and fake notes cannot be printed as these currency are being introduced along with some new features.
What are the new features?
These notes can be easily identified no matter where they are hided as there is a GPS chip connected in the notes it is called the NGC (Nano GPS chip). These Nano GPS does not require any power to operate it simply acts as a signal reflector. When a satellite send a signal requesting the signal these NGC reflect back the signal from the location along the serial number of the currency back to the satellite.
By this way 2000 rupees notes can be easily tracked even if it is kept around 100 meters downs to the earth. The satellite can find the exact location of money stored or hided. If a high amount of money in a suspicious location for a longer period of time other than bank, financial institutions. The information will be passed to the income tax department for further investigation.
Conclusion: Initial step taken by government to get rid of black money.