Security Features Analysis of Indian Currency for Recognition and Authentication

Abstract

A currency note is a type of a negotiable instrument made by a bank, payable to the bearer on demand. The Indian Rupee is the official currency of the Republic of India. Counterfeit money is imitation currency produced without the legal authorization of the state or government. This has led to the escalation of corruption hindering country’s growth. For country like India Counterfeit note is one of the biggest hurdle in the in cash transactions. Because of the fast developments in imaging, scanning and printing technologies it is very easy for a person to create fake currency notes with use of advanced software and hardware tools. Currency Recognition and Authentication has various potential applications including electronic banking, currency monitoring systems etc. This paper made an effort to explore the various security features of the highest denomination. Counterfeit of currency of denomination 2000 and 500 will be a very difficult task because as many security features are embedded in the newly introduced currency notes which makes the currency of highest denomination more secure. This papers is an efforts towards the Security Features Analysis of Indian Currency that can be used for Recognition and Authentication of genuine currency note.