Reserve Bank of India or RBI is right now creating a mobile application, which will identify the currency notes, and even read out the details to the users.
This app has been conceptualized for the visually challenged citizens of India, so that they can easily identify the fake notes from the real ones.
However, once the app has been developed, anyone can use it to check if the currency is genuine or not.
An unnamed RBI official said, “The Reserve Bank of India has been sensitive to the challenges faced by the visually challenged in conducting their day to day business with Indian banknotes,”
App To Identify Currency: How Will It Work?
As per incoming reports, the app from RBI will use the selfie camera of mobile phones, to identify the currency notes.
The user will need to place the currency note in front of the selfie camera, and then the app will scan the details of the note, and inform the user if it is genuine or fake.
The camera will use the mobile app’s logic to identify the images of Mahatma Gandhi Series and Mahatma Gandhi (New) series and test its authenticity.
Besides, the app can also read out the details of the currency note, such as its denomination, its authenticity and more.
As present, Intaglio printing based identification marks are present in the currency notes for assisting visually impaired users.
It seems that a similar logic would be used for the mobile application as well.
In case the images are not readable, then the app will ‘speak out’ the details, alerting the users.
Who Will Develop This App?
RBI is right now hunting for an able technological partner who can develop this app.
Although an Request for Proposal was published few months back for the same app, it was cancelled due to some unknown reasons.
Now, a fresh tender will be floated, and an Indian company will be selected for creating this app.
As of now, we have Rs 10, 20, 50, 100, 200, 500 and 2,000 along with Re 1 currency note which this app will be able to identify and check.
We will keep you updated, as more details come in.
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