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Showing posts with label income tax department. Show all posts
Showing posts with label income tax department. Show all posts

Indian New Currency For All Financial Issues

21:16
The main reason behind the major step taken by our hon. PM Narendra Modi, in changing the currency is to indirectly curb terrorism in India, being promoted by Pakistan with the help of fake currency. This bold step has taken complete nation by a whirlwind. The Indian new currency has some very distinct features that will make it harder to fake. As told by Finance Secretary, Ashok Lavasa, the new notes will be made available at the banks and ATMs when they reopen on Friday and these notes will be closely monitored by the RBI itself.
Counterfeit currency and black money will be successfully cracked with the abrupt withdrawal of Rs 500 and Rs 1000 from the circulation. The growing circulation of fake Indian currency had everyone in tension and had made misuse of Indian Currency. A new way has been finally been found to bring all kinds of money related crimes, like counterfeit notes and black money, down. Currency market news has had a number of alarms regarding the sensor chips inscribed in the notes, which some say may be a false one. There has not been any official declaration about any such things but unnamed sources are coming up with such news again and again.

The new notes do not just differ in color, size, theme etc but also in design elements. The new note is of 63 mm x 150 mm in length but also is said to have a Nano GPS Technology Chip embedded in it. RBI will be issuing Rs 2000 currency notes that is highest one to come into circulation till date. According to the sources it does not work with the help of power source but acts as a signal reflector. It is connected with the satellite that when asked the location reflects back the specific location coordinates. The coded number embedded on the note has a number of secrets engraved in it. The most interesting thing being that the NGC will not be scratched and damaged under any circumstances. This is supposed to help Income Tax Department to come up with huge amount of money kept in places except banks or any other financial institutions.
The most basic feature about Indian currency news and the tracking method of these notes is very complex in its own way. As informed by RBI, the notes have features like a see-through register with a denominational numeral 2000 that can be easily be seen when seen against the light. A chip or a colour shifting windowed security thread with ‘Bharat’ in Hindi, RBI and 2000 will be inscribed so that it can be tracked down easily. The thread changes colour from green to blue on getting tilted. Even for the visually impaired the raised print of Mahatma Gandhi, the Ashoka Pillar emblem, bleed lines and identity marks are an added advantage.
There has been news that a track record will be available with Government regarding these notes that will help to curb black money being stored at one place even for a long time. The new 500 and 2000 rupee being called ‘high security’ notes must have something of great importance that has still not been disclosed by high officials. With the circulation of new notes the Government is planning to bring a financial balance to the Indian market and promote financial growth in foreign market. This step has certainly taken the world by whirlwind and has left everyone in awe of excellent strategy. This action taken by the Indian Government is indeed historical in itself. A number of news are coming into the limelight and it is difficult to determine which one of them is correct but only when the new currency gets launched in the market will everything get cleared.
 
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