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ICICI Bank now uses robotic arms for currency sorting

ICICI Bank said it has deployed robotic arms in its currency chests for the purpose of counting and handling currency. The bank will be the first in the country and among the few in the world to deploy industrial robots to automate repetitive high volume steps in handling cash processing on high-end note sorting machines. Anubhuti Sanghai, head, Operations and Customer Service at the bank, said the bank has introduced 14 industrial robotic arms at its prominent currency chests across 12 cities to digitize the currency sorting process. She added that the bank will continue to invest in further mechanization of note sorting technology and the next generation machines across all its currency chests. The cities where ICICI Bank has deployed the robotic arms are Delhi, Jaipur, Chandigarh, Mumbai, Bengaluru, Hyderabad, Bhopal, Sangli, Mangaluru, Raipur, Siliguri and Varanasi. Currency chests in these cities sort 1.8 billion banknotes annually, or 6 million notes in a single working day. Each robotic arm would feed unprocessed cash in 3 high-end note-sorting machines simultaneously, pick up processed cash from the output stackers, align the loose notes, bind the packets and finally drop them in separate trays as per quality of the note. The robotic arms use a combination of sensors to check over 70 parameters within seconds and the completely mechanized process of note-sorting promises higher accuracy to boot.

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