Srinagar: “Sophisticated” Currency Verification and Processing (CVPS) machines are being used by The Reserve Bank of India (RBI) to tally old Rs 500 and Rs 1,000 notes which were returned after demonetization, RBI said.
RBI statement said that for checking the numerical accuracy and genuineness of the currency notes, RBI actually uses CVPS machines and they superior to the note counting machines.
The statement was issued on Sunday, as quoted by Deccan Chronicle.
In its annual report in August, RBI claimed that Rs 15.28 lakh crore, or 99 percent of the demonetised 500 and 1,000 rupee notes, had returned to the banking system.
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