Arun Jaitley dismisses rumours of GPS-enabled Rs 2000 notes

NEW DELHI: As part of sweeping steps to battle black money, Prime Minister Narendra Modi on Tuesday announced that Rs 500 and Rs 1,000 currency notes will cease to be legal tender from midnight of Tuesday. The Prime Minister said in a televised address that all the 500 and 1,000 denomination notes can be deposited in banks and post offices between November 10 and December 30. After Modi's address, Reserve Bank of India Governor Urjit Patel said the apex bank will launch new Rs 500 and Rs 2,000 currency notes from November 10. Soon after RBI notified that Rs 2000 currency notes would be introduced by the apex bank, a set of rumors emerged that these new notes would be embedded with nano-GPS chips to help locate the position of the currency via a satellite. These rumors spread like a wild fire in the social media and took everyone by storm. ABP News, in its Viral Sach segment, investigated such messages to find out the truth. Watch the video to know whether GPS-enabled currency notes are hoax or reality?