The Function of Money Counting Machine in Business

The Function of Money Counting Machine in Business

Money counting machine is regarded as one of the most essential machine in business. I am sure that you have seen this machine in a bank. You may need to know that this machine gives you better accuracy in counting a lot of money. This article will inform you with the function and how this machine works.

If you ever know about money counting machine, you may know that this machine is able to count both Bundle and loose Notes. This device will be very helpful in a business place that needs to count cash such as store, Cash Counter etc. this item will be very helpful in providing a good and accurate calculation.

Some people may think that this device is only a money counter. You should know that this item has more functions since there are various companies which develop this machine to be a multifunctional electronic.

If you are interested in buying a money counting machine, there are various features that you should consider. You can buy a no-frills money counting machine or you can obtain a larger, more industrial size with more design features.

This article will give you several things that you need to see about the features of the machine. This machine has various sizes. You should buy a large machine for a bigger business. It will be better if you buy a no-frills counting machine.

Define your needs and wants is the first thing that you need to think before buying a money counter machine. This machine is able to count up to 1,300 notes per minute. If you have a big business, you will need to get larger machine. Continuous counting is the most preferred feature for a counting machine. You need also consider about accumulation and batch counting which will accommodate your currency needs.

You will need to find a good counting machine that is featured with counterfeit detection. This feature will detect currency using magnetic, dimension, and ultraviolet to detect fake currency. This feature will help you to reduce your business loss.

The next thing that will be looked by business owner is LED display. This display will show you various kinds of information that you need to know from the machine. If you want to have a big and wider LED display, you will find it easier to read.

When you need a counting machine, make sure to check our best selection in http://www.geegoa.com .For better service,stability,Quality purchase it from Gajanan Electricals and Electronics .We cover Total Goa Region all Talukas also serve in Karwar and Belgaum also!

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Banks told to install note sorting machines

Banks told to install note sorting machines

LUCKNOW: The Reserve Bank of India (RBI) has directed nationalised and cooperative banks in the state to install note sorting machines for detection of counterfeit currency notes and preventing their re-issue.

"RBI had given direction to this effect in 2009. But many banks are yet to implement it. We have stressed on it again and banks have been told to install the note sorting machines at the earliest," Alpana, head of communications, RBI, told reporters on Friday. A note sorting machine identifies the notes that are suspected to be fake. She, however, did not state if any deadline has been fixed for the installation of machines.

Counterfeit currency poses a major challenge to the RBI. In 2009, the number of fake pieces were 4,01,476 as compared to 4,35,607 pieces in 2010, an increase of 34,131 fake pieces. The circulation of fake currency has increased in Uttar Pradesh. RBI statistics show that in 2011-2012, out of 60 crore pieces, seven fake pieces were each in Rs 10 and 20 notes, 798 pieces in Rs 50 notes, 1656 pieces in Rs 100 notes where as 451 pieces were in Rs 500 note and 92 pieces in Rs 1000 notes.

In another public interest initiative, the RBI has come up with a procedure to help businessmen who need 'change' for their financial transactions. "The association head is required to inform RBI about the amount of change needed and after receiving the money he distributes it to the retailers," added Alpana.