It identifies all currencies including the SDR basket of the currencies
The app can work offline once installed
The app can be used for the digital payments
Mobile Aided Note Identifier (MANI)?
Mobile Aided Note Identifier (MANI)) is a mobile application launched by the RBI for helping visually impaired persons to identify the denomination of Indian currency notes.
The app was launched by the RBI Governor Shaktikanta Das.
Features of Mobile Aided Note Identifier (MANI))
The app has capability to identify the denominations of Mahatma Gandhi Series and Mahatma Gandhi (New) series banknote by checking front or reverse side. It can also identify notes by examining part of the note including half folded notes at various holding angles and at different light conditions.
It has the ability to identify the denomination through audio notification in Hindi/English and non-sonic mode such as vibration.
The App can be freely downloaded from the android and iOS platforms
Once installed, the app can work offline.
MANI does not authenticate a note as being either genuine or counterfeit.
There is voice control navigation facility to access the application features.
Shivalik Mercantile Co-operative Bank Limited has become the first urban cooperative bank (UCB) that has been granted ‘in-principle’ permission to convert into a small finance bank by the Reserve Bank of India (RBI).
The move comes after the RBI had announced a scheme on voluntary transition of UCB into a SFB on September 27, 2018.
As per the revised guidelines of the start-up policy of the government, the maximum turnover should be Rs 100 crores (earlier 7 years). Time period to be recognized as a start-up is below ten years and tax exemption is for three years. The policy is available at the website of (DIPP), Ministry of Commerce and Industry.
The most inflationary is the budget deficit. In the case of budget deficit, there is printing of new currency to finance the deficit. In India, there is no budget deficit at present. Another inflationary practice is the monetised fiscal deficit where the government will be borrowing from the RBI to finance the budget. This is also not followed in India at present. There is slight inflationary element in the case of fiscal deficit (borrowing from the market to finance the budget), but the extent of the inflationary effect is mild compared to the above two.