A new report has came out by PTI which explains RBI Building an App to Identify Banknotes. This App will directly benefit a total of 80 Lakh visually impaired people living in our country. Do note that, Right now India is in its Technological advancement Phase. Moreover, If you remember after demonetization, for every note a new version is now available. The new version note is now available for Rs 10, 20, 50, 100, 200, 500 and 2000.
RBI Building an App to Identify Banknotes
This new mobile application will able to identify legal tender banknotes from both the Mahatma Gandhi New Series and Mahatma Gandhi Old Series notes.
To scan a note one should have to turn on this application and place the note in front of the phone’s camera. Next, the app notify the user about the identification of the note via the audio. RBI claims the app will take only 2 second to identify a note and it doesn’t require any Internet connection. Seems like RBI officials adds all the necessary things in the app package before rolling it out to the Playstore.
In India, Right now 80 Lakh peoples are those who not able to see. Moreover, the approximate number of note circulation in India right now is 102 Billion. According to a report from Business Line, Right now the total number of notes in circulation in India counts to Rs. 18 Lakh crore.
Currently, we don’t know when RBI will release this app. However, when it will we will update you in this same post.