New Currency Notes Current Affairs - 2020

RBI launches MANI application for visually challenged

On January 01, 2020, the Reserve Bank of India launched the MANI application for visually challenged persons to identify new currency notes that were launched after demonetization. MANI is Mobile Aided Note Identifier.

Highlights

MANI application scans currency notes using camera and gives audio output in Hindi and English. The Government of India launched several currency notes under “Mahatma Gandhi series”. Under the new series, denominations of Rs 10, 20, 50, 100, 200, 500 and 2,000 were released before 2 years. There were challenges faced by visually challenged in identifying these notes. Hence, the application has been launched to help visually aided in easily identifying the notes. However, the application does not detect genuine or counterfeit notes.

Mahatma Series Notes

The Mahatma Gandhi Notes were introduced in 1996. The currency was called so as the notes prominently displays portrait of Gandhiji. These notes replaced the Lion Capital Series. These notes have several security features.

Security Features

They contain a security thread that can be seen as a straight line against a line source. Also, it contains the word “Bharat” written in Devanagari script. It reveals a hidden image of Mahatma when held against light source at an angle of 45 degrees. It also holds water mark and fluorescence. These notes were replaced by the Mahatma Gandhi (new) series that were launched in 2016.

The Intaglio Print

The currency notes hold intaglio print to help the visually impaired read the denominations. Intaglio is raised shape that are present in all notes other than Rs 10. Vertical rectangle is present in Rs 20, square in Rs 50, triangle in Rs 100, circle in Rs 500. Rs 2000 notes has a raised print of horizontal rectangle.

The application is a better means to identify the notes.

NPL scientists develop ink to stop fake passports and currency notes

The Council of Scientific and Industrial Research (CSIR) and National Physical Laboratory (NPL) developed an ink to combat the problem of fake printing of passports and counterfeiting of currency notes. The ink has a new security feature o protecting itself against duplicity

Key facts of the discovery

The ink was produced based on single excitable dual emissive luminescent pigment. It was developed based on the concept of fluorescence and phosphorescence phenomena. Currently, the currency notes display only one color with the emission of wavelength. However, in the ink developed by the scientists features changes in pigment color after the notes are printed.

In ambient light the ink shows white color. When the ink is exposed to UV light, it turns red and when the UV source is switched OFF it turns green.

Why the new ink?

According to the annual report of RBI (2018-19), the risk of duplication of Rs 500 and Rs 2000 notes are higher. The report says that recently launched 500 rupees notes are accounted to 121% of duplication and Rs 2000 notes are accounted to 21.9% duplication.

Fluorescence and Phosphorescence

Both in phosphorescence and fluorescence the radiation is electromagnetic and is spontaneous.

In case of fluorescence, the radiation stops after the source is switched off. On the other hand, in phosphorescence, the glow continues for few hours.