Abstract
Currency is used to carry out not only business but also for various other transactions to get access to various services and commodities. There are a total of 7 denominations for the Indian currency each with unique features to distinguish them from each other and with various and distinct security features to prevent them from fraudulent copying. However,with the evolution of technology, there is also an increase in the ways in which fake forms of these currencies are created. These fake or counterfeit notes have various ill-effect on society. The proposed system will be used to check the genuine Indian currency notes and to find the denomination of the currency note. Comparative study for various image processing algorithms was conducted to identify and select the one which will be able to extract more prominent features,and is also better in terms of processing time,outlier rejection, efficiency in computation and in feature matching. After which a real time system is created for currency detection in real time.
Highlights
The evolution of technology, has lead to an increase in the ways in which fake forms of currencies are created and the counterfeit currency notes in the Indian market have increased
This report focuses on the comparison and analysis of different image processing algorithms to find the most efficient algorithm to identify and classify real and counterfeit currency notes and to find the denomination of the currency [2]
The many image processing algorithms that have been used each have their merits and demerits but most are found lacking in terms of it being transformed into a real time application
Summary
The evolution of technology, has lead to an increase in the ways in which fake forms of currencies are created and the counterfeit currency notes in the Indian market have increased. These fake or counterfeit notes have various ill-effect on society. This report focuses on the comparison and analysis of different image processing algorithms to find the most efficient algorithm to identify and classify real and counterfeit currency notes and to find the denomination of the currency [2]. The proposed system will be able to recognize the currencies and classify them as real or fake In this approach, we will classify the fake notes using an image processing algorithm. A comparative study of different image processing algorithms is performed, and these algorithms will be
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