Mobile app for currency notes identification: Here's what RBI plans

As cash still remains a dominant mode of transaction in India, Reserve Bank of India will come out with a mobile application to help visually challenged people to identify currency notes. According to an agency report published by DNAIndia.Com, there are about 80 lakh blind or visually impaired people in the country who are likely to benefit from the initiative of the central bank.  

Intaglio printing based identification marks for helping the visually challenged in the identification of banknotes denomination is present in the notes of Rs 100 and above. Currently, banknotes in denominations of Rs 10, 20, 50, 100, 200, 500 and 2,000 are in circulation, besides Re 1 notes which is issued by the Centre.

Identification of banknote denomination is key to the successful completion of cash-based transactions by visually impaired persons. After demonetisation of old Rs 500/1,000 notes in November 2016, new banknotes in design and sizes have been put in circulation.

The central bank while scouting for a vendor to develop the mobile application said that the RBI has been sensitive to challenges faced by the visually challenged.  

The proposed mobile app would be able to identify the denomination of notes of Mahatma Gandhi Series and Mahatma Gandhi (New) series by capturing the image of the notes placed in front of the mobile camera, says RBI. The Reserve Bank of India had come out with a similar 'request for proposal' from vendors but later cancelled it.

Reportedly, the app will also generate "audio notification" intimating the currency note denomination to the user.