RBI announces new rules for exchange of damaged Rs 2000, 200 notes
Saturday, September 8, 2018, 9:41 PM
The Reserve Bank of India has announced that the undivided area of the single largest piece of a damaged Rs.2,000 note must be 88 square cm for a full refund and 44 square cm for half refund. For exchanging Rs.200 notes, 78 square cm of an undivided area is needed for a full refund, and 39 square cm for half refund.
Currency with public hits record at over Rs 18 lakh crore
Sunday, June 10, 2018, 3:07 PM
Currency with the public has reached a record high level of over Rs.18.5L-crore, more than double from a low of about Rs.7.8L-crore it had hit post-demonetisation decision in late 2016, as per RBI data. At the same time, the total currency put in circulation by the Reserve Bank has also more than doubled to over Rs.19.3L-crore from a low of about Rs.8.9L-crore post- demonetisation.
Artificial Intelligence to help blind identify Indian currency notes
Thursday, June 7, 2018, 7:32 AM
Artificial Intelligence has come to the aid of persons with low or no vision to identify currency notes. Microsoft has enhanced the capabilities of its Seeing AI, which already detects currencies like Euro, US and Canadian dollars and pound, to identify Indian currency too. The App identifies all currency notes in circulation, including the ones issued last year.