In 2015, RBI announced
new ₹500 and ₹1,000 notes with bleed marks and identification marks ( circle in ₹500 and diamond in ₹1,000 ) to help the visually impaired. These notes were subsequently
de-monetized
Then about an year back,
RBI said in its Bimonthly Monetary Policy Review :
The Reserve Bank is of
the view that technological progress has opened up new vistas for
making Indian banknotes
more recognizable for the visually challenged, facilitating their
day-to-day transactions -
and added that it would issue guidelines in six months.
Of the solutions
considered, following were implemented :
# Different sizes for different denominations
# Embossed symbols
These have not helped
much
Hence , this week , RBI
told Bombay High Court that,
# It was in the process of developing a mobile application to help visually impaired identify
currency notes
# It has constituted four member expert committee to develop a software for this purpose
# The new software will be available on most mobile devices free of charge
[ Mobile
app to help visually-impaired identify currency: RBI to Bombay HC ]
Dear RBI ,
This is your “ golden
opportunity “ to rid the country of “ BLACK
MONEY “ – by introducing a “ metallic security thread “ in
all currency notes
How will this work ?
Using magnetic
instead of electric properties of the metallic security thread found in all
currency notes
This new
technique will allow the security thread to store unique serial number of each
note
( a simple method of magnetizing the metallic security
thread with zeros and ones, during the printing process )
And enable that proposed software to ,
# Identify the
denomination of any note held close to the mobile phone , by reading those
zeros and ones [ or by
taking a photo / image of the unique Serial Number of a note ,
then converting into text and finding
its denomination value from Central Database
]
# Speak it aloud
loudly ( for the visually impaired )
More importantly , to transmit that information to the
Central Server of the Income Tax Department / Enforcement Department / CBI /
CVC etc , in case of Rs 2,000 notes !
No one will dare to receive or give-out , a bundle of Rs
2000 notes !
Relevant Readings :
Currency
Notes for Visually impaired ? …………………………………………. 10
June 2018
How
Many Gigs Are You Wearing? ………………………………………………..
26 Dec
2017
#RFID
, A breakthrough , at last ? ……………………………………………….
06 June
2018
----------------------------------------
From: Hemen Parekh [mailto:hcp@recruitguru.com]
Sent: 03 November 2017 10:23
To: 'gshyam@cs.washington.edu'
Cc: 'Sanjay Emani Sarma'; 'hcp@RecruitGuru.com'
Subject: DATA STORAGE ON CLOTHS WITHOUT ELECTRONICS
--------------
Dear Shyam,
In yesterday’s “ Mumbai Mirror “ , I came across following news
:
“ New Fabric can store data without electronics “
I also looked it up
on your web page :
and saw the video and then wondered :
“ Can your
technology help the Indian Government , tackle the twin problems of ,
·
Detection of fake /
forged currency notes of high denominations ( Rs 500 / 2,000 )
·
Reduction
of BLACK MONEY ( usually held as CASH of Rs 500 / 2,000 notes )
Earlier
, I had suggested to the Indian Authorities to consider embedding RFID nano-chips in those notes , to track any accumulation of ( say ) 1000 notes in an area
of 1 sq meter , anywhere in India
The idea of
embedding RFID was considered “ feasible
“ by Sanjay Sarma
Only
a few days back , I learned that the Australian Government is considering
embedding RFID nano-chips in its $ 50 /
100 , currency notes for the purpose of tracking the Black Money
In “ Mumbai Mirror
“ news item , you are quoted :
“
This is a completely electronic-free design
, which means you can iron the smart fabric or put it in the washer and dryer.
We are using something that already exists on a smart phone and uses almost no power, so the cost of reading
this type of data is negligible “
Report further says
:
“ The
team also demonstrated that the magnetized fabric could be used to interact with a smart phone while it is in one’s pocket … Scientists realized that this
off-the-shelf conductive thread also has
the magnetic properties that can be manipulated to
store either digital data or visual information like LETTERS or NUMBERS
“
I believe all
currency notes come with a metallic SECURITY THREAD ,
capable of being magnetized
So,
could that thread be able to store the UNIQUE SERIAL NUMBER , assigned to each
and every currency note , which , in turn , can be “ read “ by the Smart phone , and “ transmitted
“ to the Central Server of the India’s Income Tax Department ?
If
possible , this can track those high denomination currency
notes lying in wallets / purses ( - assuming that a smart phone is also
next to those notes )
This still leaves
open the following issue :
Huge
bundles of high currency notes ( totalling millions of rupees ) , are usually
stored in lockers ( at home or in bank
vaults )
How
can your invention help to track these ?
I would highly appreciate if you can show a way by which India can leapfrog Australia
My idea is
explained at length at :
========================
This blog is sent
as email to the following RBI executives in charge of
=====================================================================
24 March 2019
Rsvp : hcp@RecruitGuru.com