Finance Minister Arun Jaitley has dismissed these rumours

• Reserve Bank of India is issuing new Rs. 500 and Rs. 2000 notes
• Rumours have been circulating that Rs. 2000 note has GPS tracking chip
• Finance Minister Arun Jaitley has dismissed these rumours

In what should come as a surprise to no one, Finance Minister Arun Jaitley on Wednesday confirmed that RBI's new Rs. 2000 note has no GPS tracking chip.

"From where did you come to know this? I haven't heard of it," Jaitley replied when asked by a reporter if the new Rs. 2,000 note issued by the Reserve Bank of India (RBI) has a chip to enable its tracking via satellites.

That's official confirmation for something we already told you on Wednesday, dispelling rumours floating on WhatsApp and other social media that RBI's new Rs. 2000 notes have a 'near-field GPS' or NGC chip that will be used to track these notes.

We explained how the technology that these new Rs. 2000 notes being issued by RBI are 'claimed' to have would be technically not feasible. This is what a popular WhatsApp forward being circulated claimed about the new Rs. 2000 currency:

RBI to issue ₹2000 Rupees Notes coming February 2017

India is all set to add one more denomination to its currencies shortly. The Reserve Bank of India (RBI) will be issuing Rs 2,000 currency notes, the highest to come into circulation, even as some experts feel7 high-value denominations should be discontinued to curb black money.