RECENT DEVELOPMENTS IN PAPER CURRENCY RECOGNITION SYSTEM

Kishan Chakraborty, Jordan Basumatary, Debasmita Dasgupta, Jagadish Chandra Kalita, Subra Mukherjee

Abstract: Currency denomination recognition is one the active research topics at present. And this wide interest is particularly due to the various potential applications it has. Monetary transaction is an integral part of our day to day activities. However, blind people particularly suffer in monetary transactions. They are not able to effectively distinguish between various denominations and are often deceived by other people. Also, a reliable currency recognition system could be used in any sector wherever monetary transaction is of concern. Thus, there is an ardent need to design a system that is helpful in recognition of paper currency notes correctly. Currency denomination detection is a vast area of research and significant progress had been achieved over the years. This paper presents an extensive survey of research on various developments in recent years in identification of currency denomination. A number of techniques applied by various researchers are discussed briefly in order to assess the state of art.

Keywords: Currency recognition system, Artificial Neural Network.

DOI: https://doi.org/10.15623/ijret.2013.0211034