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Mr Klaus Leibundgut, Sales Director, BEB Industries- Elektronik AG (left), with Mr G.S.S. Dutt, CEO, Business and Computer Systems Division, Kores (India) Ltd, at a press conference in Mumbai on Tuesday. - Paul Noronha

Our Bureau

Mumbai, Nov. 3 In an attempt to thwart counterfeit notes from inadvertently being accepted by commercial institutions, Kores India launched a unique counterfeit currency detector on Tuesday. Weighing 8.9 kg, the machine would have the ability to capture all the existing security features of Indian currency notes of all denominations currently in circulation and identify counterfeit notes. “The machine is meant to be used at the branch level by banks so that the cashier can detect a counterfeit note before it is deposited. The machine detects 1,200 notes a minute,” said Mr G. S. S. Dutt, CEO of Kores India.

The detector machine will be priced at over Rs 1 lakh making it affordable for use by banks. It can be also used by merchants and other financial institutions that see a significant cash-flow, he added.

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