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9th August 2016 Current Affairs Questions and Answers

9th August 2016 Current Affairs MCQs, Quiz, Questions : Current Affairs for August 2016 ,  Daily Multiple Choice Questions (MCQs) for In...

Nano GPS Chip (NGC) in Rs 2000 Note

Nano GPS Chip (NGC) is  unique feature of the NGC is it doesn't need any power source. It only acts as a signal reflector. When a Satellite sends a signal requesting location the NGC reflects back the signal from the location, giving precise location coordinates, and the serial number of the currency back to the satellite, this way every NGC embedded currency can be easily tracked & located even if it is kept 120 meters below ground level. The NGC cant be tampered with or removed without damaging the currency note. 
It was expected that Rs 2000 currency is designed keeping in mind to eradicate the black money issues using state of the art indigenous nano technology, every Rs. 2000 currency note is embedded with a NGC (Nano GPS Chip).
The rumour of the inclusion of a tracking chip in the notes went viral on social media and WhatsApp hours after Prime Minister Narendra Modi announced the demonetisation plan. The Rs. 2,000 notes that will enter into circulation from November 10, 2016 will not have any electronic chip, the Reserve Bank of India clarified on Wednesday. “The only security features of the Rs. 2,000 note are the ones we have mentioned in our releases regarding the note,” an official in the Reserve Bank of India told The Hindu. “The release is also on our Twitter account and it does not mention any chip.” The rumour of the inclusion of a tracking chip in the notes went viral on social media and WhatsApp hours after Prime Minister Narendra Modi announced the demonetisation plan.