Recognition of Indian Currency Note Based on HSV Parameters

This paper presents the novel method for detection of the counterfeit Indian Paper Currency. The proposed approach works with all the types of denominations of Indian paper currency. The system relies on a specific feature of the Indian Bank Notes and relied feature is not possible to replicate for the counterfeit makers or producers. And there is no chance that they would be capable to imitate this feature even within a pretty long time. The recognition system is composed of two parts. The captured image is first preprocessed by reducing data size and extracting its features by using image processing toolbox in MATLAB. The feature extraction is finished by considering HSV (Hue Saturation Value). The second step is recognition, in which the core is neural network classifier. The success-rate of the counterfeit detection with properly captured image is 100%.