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How Cash Counting Machines Make Businesses Super Efficient

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It takes a lot of time to sort and count money and time is a valuable commodity. As a result, making the cash counting process as reliable, fast, and as painless as possible is a no-brainer. Cash counting machines are used by banks, government departments, religious institutions, enterprises such as supermarkets, grocery stores, retail shops and many more.

However, some people are wary of these computers because they seem to be so simple — as though they are cheating — when, in reality, they can prevent cheating by having instantaneous precision and identifying counterfeit money. So, how do cash counters function? The majority of machines are easy to use, compact, and need little to no instruction.

India starts to abandon cash, maybe a bit too fast – Emirates Business
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A little extra experience will help you save time and money in the long run. Manual currency counting is time-consuming and error-prone. As a result, a little automation is needed in the form of a currency counting system. Based on your desired size, these devices are available in a variety of sizes. Some are portable, while others, including those used in banks, are designed to accommodate large sums of capital.

However, if you’re considering purchasing a banknote counter, you may be unsure where to begin. These five characteristics should be at the top of the priority list.

You’ll be able to find the device that better fits the company’s needs if you consider them.

  • Think about Counting Speed.

It can appear self-evident to think of the machine’s counting speed. After all, one of the reasons you’re buying a banknote counter is to speed up the counting process and cut down on the time you spend juggling currency.

  • Consider the size and type of hopper.

As previously said, the scale of the hopper influences the pace of banknote counters. The unit is more effective when the hopper is properly sized. The smoother the counting process is, the fewer you have to wait to load more bills. If the hopper is so tiny that you have to sit there and feed bills through constantly, speed isn’t an advantage.

  • Look at Batch or Adding Features options.

A batching feature is available on some money counting machines, which is useful if you need to manually strap cash for a deposit. The computer will count up to a certain amount and then stop, allowing you to delete the batch before proceeding.

  • Counterfeit and Error Detection Are Important Features

If the machine counts incorrectly, using a banknote counter is useless. Miscounts attributable to folded or broken money, several notes fed at the same time, or bills of the wrong size may be reduced with a cash-counting system with built-in error detection.

  • One of the best devices in the market is MX501.

The Maxwell MX50i is the most famous cash counting machine in India. Its high-precision sensors and sophisticated MG Spectrum Analyzing technology aids in the detection of counterfeit money when counting, ensuring that the MX50i does not skip any fakes.

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Benefits Of A Cash Counting Machine

Science and technology have made our lives easier, and daily technical advancements have increased production, quality, and accuracy. A cash counting machine is one such innovation that is now used in many departmental stores, financial institutions, hotels and the list is endless.

  • Saves time

The money counting machine can count notes even better than a person can, and it can hold a large amount of cash at once. The computer counts an entire package in a couple of seconds and provides correct data, saving us time in the recounting process. When manually counting notes, there is still the possibility of making a mistake, so the package can be rechecked.

  • Easy to Use

The currency counting unit is very simple to use. This computer has an automatic system that controls when they start and end. When the notes are properly positioned, the system begins counting and ends when the count is complete.

  • Counterfeit Notes Detection

The majority of currency counting machines have a feature that detects counterfeit money. If the computer finds a ripped, false, or unusable note, it will notify the user with a beep sound. This functionality is just one of the many reasons why people are increasingly turning to currency counting machines.

  • Perfection

These money counting machines are not only time savers, but they are also highly reliable, with a near-to zero risk of making an error. These machines are very silent as the notes are being counted.

    • Insightful

The current generation of currency counting machines is not only fashionable but also intellectual. Instead of counting the notes, several computers now identify various denominations and provide the total number. This technique allows you to save time.

Fake Notes In The Market

Unfortunately, the counterfeit Indian currency has been a major problem in recent years. Counterfeiters are getting so smart, and the current notes are so well made, that it’s impossible to tell them apart.

Outlook India Photo Gallery - Money
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The Issue Of Fake Indian Money

The official name for counterfeit notes in the Indian economy is Fake Indian Currency Note (FICN). The number of counterfeit notes in circulation is estimated to be in the millions. The worth, according to a report conducted by the National Investigation Agency in collaboration with the Indian Statistical Institute (ISI), is 400 crore rupees (4 billion rupees/$53.3 million).

How To Recognise Fake Indian Money

There are a lot of indicators that money is counterfeit. There are some of them:

  • Watermarks that seem to be dense. Counterfeiting gangs also use tar, grease, or wax to make the image appear transparent.
  • Instead of being inserted into the currency at the time of manufacturing, imitation protection threads are drawn or written on.
  • Figures that aren’t in the right place. Smaller or larger numbers, insufficient spaces, and multiple number alignments can all be viewed with caution.
  • Split printed lines, as well as ink smudges.
  • The “Reserve Bank of India” is written in thicker font than normal.

If you are having a small business, then here is the best machine for detecting fake notes

Automatic Rupee Detector By Maxsell Truscan Neo

The Award-Winning Fake Currency Detector from Maxsell is the Truscan Neo. Neo has everything: design, style, compactness, and functionality. When it comes to identifying fake Indian rupee notes, the task is extremely difficult.

RBI Guidelines To Identify Fake Notes

  • You may have a few fake currency notes on you in these days of depositing currency notes with banks. Given the potential for confusion if a bogus note is found in the batch you’re depositing, you and the bank staff could choose to kill the note rather than keep track of it. However, should not be shocked by the bank’s procedure if fraudulent notes are discovered.
  • Banks must use note counting and counterfeiting devices to spot false notes.
  • Counter workers would seize the note and forge it by issuing a numbered receipt since it would be unethical to lose or return it. Since no reward can be issued for the impounded note, please countersign the receipt and retain a copy to ensure that the bogus note remains part of the official investigative machinery
  • If the counter staff destroys the note, file a written complaint with the bank office, as well as a copy with the RBI’s Consumer Education and Protection Cell.
  • If 5 or more fake notes are used in a single transaction, an FIR will be filed; if the amount of fake notes per transaction is less than 5, no FIR will be filed immediately, but a monthly cumulative report will be submitted to the police authority.

Become Acquainted With The Indian currency.

The best way to detect fake Indian currency is to become acquainted with the appearance of genuine Indian currency. For this reason, the Reserve Bank of India has a website called Paisa Bolta Hai (Money Speaks). It includes big images of all-new Indian banknotes, as well as extensive explanations of their security features.

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An ambassador and trained facilitator under Eco Femme (a social enterprise working towards menstrual health in south India), Sanjina is also an active member of the MHM Collective- India and Menstrual Health Alliance- India. She has conducted Menstrual Health sessions in multiple government schools adopted by Rotary District 3240 as part of their WinS project in rural Bengal. She has also delivered training of trainers on SRHR, gender, sexuality and Menstruation for Tomorrow’s Foundation, Vikramshila Education Resource Society, Nirdhan trust and Micro Finance, Tollygunj Women In Need, Paint It Red in Kolkata.

Now as an MH Fellow with YKA, she’s expanding her impressive scope of work further by launching a campaign to facilitate the process of ensuring better menstrual health and SRH services for women residing in correctional homes in West Bengal. The campaign will entail an independent study to take stalk of the present conditions of MHM in correctional homes across the state and use its findings to build public support and political will to take the necessary action.

Saurabh has been associated with YKA as a user and has consistently been writing on the issue MHM and its intersectionality with other issues in the society. Now as an MHM Fellow with YKA, he’s launched the Right to Period campaign, which aims to ensure proper execution of MHM guidelines in Delhi’s schools.

The long-term aim of the campaign is to develop an open culture where menstruation is not treated as a taboo. The campaign also seeks to hold the schools accountable for their responsibilities as an important component in the implementation of MHM policies by making adequate sanitation infrastructure and knowledge of MHM available in school premises.

Read more about his campaign.

Harshita is a psychologist and works to support people with mental health issues, particularly adolescents who are survivors of violence. Associated with the Azadi Foundation in UP, Harshita became an MHM Fellow with YKA, with the aim of promoting better menstrual health.

Her campaign #MeriMarzi aims to promote menstrual health and wellness, hygiene and facilities for female sex workers in UP. She says, “Knowledge about natural body processes is a very basic human right. And for individuals whose occupation is providing sexual services, it becomes even more important.”

Meri Marzi aims to ensure sensitised, non-discriminatory health workers for the needs of female sex workers in the Suraksha Clinics under the UPSACS (Uttar Pradesh State AIDS Control Society) program by creating more dialogues and garnering public support for the cause of sex workers’ menstrual rights. The campaign will also ensure interventions with sex workers to clear misconceptions around overall hygiene management to ensure that results flow both ways.

Read more about her campaign.

MH Fellow Sabna comes with significant experience working with a range of development issues. A co-founder of Project Sakhi Saheli, which aims to combat period poverty and break menstrual taboos, Sabna has, in the past, worked on the issue of menstruation in urban slums of Delhi with women and adolescent girls. She and her team also released MenstraBook, with menstrastories and organised Menstra Tlk in the Delhi School of Social Work to create more conversations on menstruation.

With YKA MHM Fellow Vineet, Sabna launched Menstratalk, a campaign that aims to put an end to period poverty and smash menstrual taboos in society. As a start, the campaign aims to begin conversations on menstrual health with five hundred adolescents and youth in Delhi through offline platforms, and through this community mobilise support to create Period Friendly Institutions out of educational institutes in the city.

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A student from Delhi School of Social work, Vineet is a part of Project Sakhi Saheli, an initiative by the students of Delhi school of Social Work to create awareness on Menstrual Health and combat Period Poverty. Along with MHM Action Fellow Sabna, Vineet launched Menstratalk, a campaign that aims to put an end to period poverty and smash menstrual taboos in society.

As a start, the campaign aims to begin conversations on menstrual health with five hundred adolescents and youth in Delhi through offline platforms, and through this community mobilise support to create Period Friendly Institutions out of educational institutes in the city.

Find out more about the campaign here.

A native of Bhagalpur district – Bihar, Shalini Jha believes in equal rights for all genders and wants to work for a gender-equal and just society. In the past she’s had a year-long association as a community leader with Haiyya: Organise for Action’s Health Over Stigma campaign. She’s pursuing a Master’s in Literature with Ambedkar University, Delhi and as an MHM Fellow with YKA, recently launched ‘Project अल्हड़ (Alharh)’.

She says, “Bihar is ranked the lowest in India’s SDG Index 2019 for India. Hygienic and comfortable menstruation is a basic human right and sustainable development cannot be ensured if menstruators are deprived of their basic rights.” Project अल्हड़ (Alharh) aims to create a robust sensitised community in Bhagalpur to collectively spread awareness, break the taboo, debunk myths and initiate fearless conversations around menstruation. The campaign aims to reach at least 6000 adolescent girls from government and private schools in Baghalpur district in 2020.

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A psychologist and co-founder of a mental health NGO called Customize Cognition, Ritika forayed into the space of menstrual health and hygiene, sexual and reproductive healthcare and rights and gender equality as an MHM Fellow with YKA. She says, “The experience of working on MHM/SRHR and gender equality has been an enriching and eye-opening experience. I have learned what’s beneath the surface of the issue, be it awareness, lack of resources or disregard for trans men, who also menstruate.”

The Transmen-ses campaign aims to tackle the issue of silence and disregard for trans men’s menstruation needs, by mobilising gender sensitive health professionals and gender neutral restrooms in Lucknow.

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A Computer Science engineer by education, Nitisha started her career in the corporate sector, before realising she wanted to work in the development and social justice space. Since then, she has worked with Teach For India and Care India and is from the founding batch of Indian School of Development Management (ISDM), a one of its kind organisation creating leaders for the development sector through its experiential learning post graduate program.

As a Youth Ki Awaaz Menstrual Health Fellow, Nitisha has started Let’s Talk Period, a campaign to mobilise young people to switch to sustainable period products. She says, “80 lakh women in Delhi use non-biodegradable sanitary products, generate 3000 tonnes of menstrual waste, that takes 500-800 years to decompose; which in turn contributes to the health issues of all menstruators, increased burden of waste management on the city and harmful living environment for all citizens.

Let’s Talk Period aims to change this by

Find out more about her campaign here.

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A former Assistant Secretary with the Ministry of Women and Child Development in West Bengal for three months, Lakshmi Bhavya has been championing the cause of menstrual hygiene in her district. By associating herself with the Lalana Campaign, a holistic menstrual hygiene awareness campaign which is conducted by the Anahat NGO, Lakshmi has been slowly breaking taboos when it comes to periods and menstrual hygiene.

A Gender Rights Activist working with the tribal and marginalized communities in india, Srilekha is a PhD scholar working on understanding body and sexuality among tribal girls, to fill the gaps in research around indigenous women and their stories. Srilekha has worked extensively at the grassroots level with community based organisations, through several advocacy initiatives around Gender, Mental Health, Menstrual Hygiene and Sexual and Reproductive Health Rights (SRHR) for the indigenous in Jharkhand, over the last 6 years.

Srilekha has also contributed to sustainable livelihood projects and legal aid programs for survivors of sex trafficking. She has been conducting research based programs on maternal health, mental health, gender based violence, sex and sexuality. Her interest lies in conducting workshops for young people on life skills, feminism, gender and sexuality, trauma, resilience and interpersonal relationships.

A Guwahati-based college student pursuing her Masters in Tata Institute of Social Sciences, Bidisha started the #BleedwithDignity campaign on the technology platform Change.org, demanding that the Government of Assam install
biodegradable sanitary pad vending machines in all government schools across the state. Her petition on Change.org has already gathered support from over 90000 people and continues to grow.

Bidisha was selected in Change.org’s flagship program ‘She Creates Change’ having run successful online advocacy
campaigns, which were widely recognised. Through the #BleedwithDignity campaign; she organised and celebrated World Menstrual Hygiene Day, 2019 in Guwahati, Assam by hosting a wall mural by collaborating with local organisations. The initiative was widely covered by national and local media, and the mural was later inaugurated by the event’s chief guest Commissioner of Guwahati Municipal Corporation (GMC) Debeswar Malakar, IAS.

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