DIGITALIZED HIGH VALUE PAPER CURRENCY

Abstract

Disclosed herein is a novel invention of Digitalized High Value Paper Currency (DHVPC) and its overall processes for the printing, registration, distribution, recording and monitoring of transactions through a specially designed Online Portal. During the DHVPC registration, opening of additional ledger window with simultaneous automatic generation of a window in the Online Portal of Reserve Bank/Central bank of each nation takes place with automatic updating of transactions of DHVPC. This Invention provides 100% protection from counterfeiting of Paper Currency, monitoring, tracking of currency, blocking of illegal transactions, value protection in unforeseen situations, easiness to carry and handle, faster scanning of currency and improved security. The DHVPC transactions can be done through Commercial and Scheduled Banks or ATM/CDM or Net Banking. Counterfeiting is 100% impossible because, the registration of DHVPC is possible only through Reserve bank/Central bank of each nation, parallel entry of currency into the circulation is not possible.

Claims

1. Here a Digitalized High Value Paper Currency (DHVPC) is introduced, which is a combination of physical currency (paper currency) and its data on the online portal (Digital platform) of the Reserve Bank or Central Bank of each nation; Reserve Bank or Central bank of each nation has to establish a DHVPC department comprising of 4 major cells namely printing cell of DHVPC, Registration cell of DHVPC, Distribution cell of DHVPC, Monitoring cell of DHVPC for prevention of currency counterfeiting and providing for secure monetary transactions between one account holder to another; the methodology consisting of, printing required DHVPC with the features mainly alpha numeric code; registering the printed DHVPC in the online portal of Reserve Bank or Central bank of each nation, registering Commercial and scheduled banks (CSBs) with the online portal of Reserve Bank or Central bank of each nation by linking the software module; then CSBs registering the account holders as account holders for DHVPC; Reserve Bank or Central bank of each nation distributing the DHVPC after its printing and Registration to CSBs; registering the Account Holders in the online portal of Reserve Bank or Central bank of each nation through CSBs; during registration of an account holder, 2.sup.nd window of DHVPC is opened by linking to the conventional/main window for facilitating transactions; during purchase of DHVPC debiting value from conventional window and crediting to the DHVPC window; thereby linking each DHVPC with each account holder through mainly DHVPC number (alpha numeric code); thereby converting low value currencies into a single digitalized high value paper currency facilitating easy handling and transportation; during surrender of DHVPC unlinking the DHVPC number from the account holder thereby debiting value from DHVPC window and crediting to the conventional/main account window; during transfer of DHVPC from 1st account holder to 2.sup.nd account holder unlinking the DHVPC number from the 1st account holder and linking to the 2.sup.nd account holder thereby debiting value from the DHVPC window of 1.sup.st account holder and crediting to the DHVPC window of 2.sup.nd account holder; linking of the online portal of Reserve bank/central bank of each nation with the CSBs during registration and automatic updating of data in the online portal of Reserve bank/central bank of each nation during each transaction thereby leaving a digital evidence of the same facilitating in the tracking and monitoring of the transactions by the Reserve Bank or Central bank of each nation where ATM wise, CDM wise; account holder wise, DHVPC wise monitoring is done by monitoring officials; in transactionspurchase, surrender and transfer between account holders directly through banks, through ATM (by incorporating special trays and software), CDM (by incorporating software), netbanking and in each transaction account holder authentication with authentication of DHVPC with the production of OTP number is done with physical transfer of currency so as to enhance the safety and security of transaction; first entry of each DHVPC using DHVPC number only possible at Reserve Bank or central bank of each nation) by opening an online portal and simultaneous data updating in the online portal so that no counterfeiting takes place; facilitates prevention of hacking in each transaction as transactions are completed only by physical transfer of currency and simultaneous data updating automatically taking place in the online portal of Reserve bank/central bank of each nation; since the DHVPC is registered and then linked with the account holder through DVPC number in the online portal, value protection of the DHVPC in case if lost, stolen or damaged is possible; a 3.sup.rd party cant transfer or surrender the lost DHVPC of a DHVPC account holder as 3 level authentication viz account holder authentication with DHVPC number authentication and OTP number generation is needed in case of both surrendering the DHVPC for getting the value and also transferring of DHVPC with physical transfer of DHVPC to complete the process.

2. The method as claimed in claim 1, wherein the Reserve bank or Central bank of each nation needs to open a new Online Portal with high security software, eg, www.dhvpc.rbi.gov.in.in India, for this DHVPC registration, distribution/circulation and monitoring; Printing cell of the DHVPC department of Reserve bank or Central bank of each nation prints the required DHVPC with alpha numeric code so that so many low value currencies can be converted into one high value currency which facilitates handling among CSB and Reserve or Central Bank officials and customers, easiness in transportation, eco friendliness; here alpha-Numeric code is the principal identifier of DHVPC transactions, tracking and monitoring; Registration cell of the DHVPC department of Reserve bank or Central bank of each nation will register the DHVPCs in the Online Portal of the Reserve bank or Central bank of each nation utilizing the alpha numeric code, after its printing; QR code and bar code can be utilized if needed for added security.

3. The method as claimed in claim 1, wherein in which the Reserve bank or Central bank of each nation acts as the System Administrator and all other Registered Commercial and Scheduled Banks(CSBs) and its branches act as Registered Banks and Account Holders as Individual or Corporate, with designated User ID and password, issued through Commercial and Scheduled Banks, inter banking transactions between 2 or more CSBs and transactions between 2 account holders of different banks/same bank are possible; for this first the registration of CSB with Online Portal of Reserve Bank or Central Bank of each nation has to be done; the Reserve Bank or Central Bank of each nation will approve the eligible/qualified CSBs and then issue a linking software module which can be linked with the CSB and Online Portal of Reserve Bank/Central bank; after which CSB can provide DHVPC registration for its account holders; it can access the online portal using user id and password and becomes ready for DHVPC transactions; the Registered Commercial and Scheduled Banks (CSBs) must have a hyperlink in their website to access the online portal for DHVPC transactions and at the same time to form/create a track record of DHVPC transactions and its sources.

4. The method as claimed in claim 1, wherein the Registration of DHVPC utilizing alpha numeric code is possible only through Reserve bank or Central bank of each nation, which will be helping in preventing counterfeiting.

5. The method as claimed in claim 1, wherein the Counterfeiting of DHVPC is not at all possible, since the first entry of the currency can be done only by the Reserve bank or Central bank in each nation, after this the high value currency can be used for transaction, but every time, the data will be updated automatically in the Online Portal and no parallel entry of data of fake currency is possible at any point from anywhere in the system.

6. The method as claimed in claim 1, wherein each and every time, the Digitalized High Value Paper Currency has a registered Account holder, unlike other currency, either a party or organization or bank which helps in tracking the transaction.

7. The method as claimed in claim 1, wherein the distribution cell of DHVPC of Reserve bank or Central bank of each nation can distribute the DHVPC to the Registered CSBs through the Online Portal, after registration of DHVPCs and physically transfer the currency to the CSBs.

8. The method as claimed in claim 1, the process of DHVPC registration of account holder is described, wherein after the linking of the software module, the CSBs can do registration of Account Holders, during which an additional Ledger Window (DHVPC Window) will be generated in addition to the main account of account holder, where all DHVPC transactions are recorded so that debiting from the main window and crediting to the DHVPC window and vice versa can be done for facilitating transactions and a similar window will be generated automatically in the Online Portal of Reserve Bank or Central Bank of each nation for the account holder so that automatic updating of transactions of DHVPC (purchase, surrender, and transfer) takes place; thereby account holder will become a registered Account holder for DHVPC and Account is now ready for DHVPC transactions.

9. The method as claimed in claim 1, wherein the DHVPC Holder can do DHVPC transactions (purchase, surrender, transfer) to another registered DHVPC account holder of the same bank/different bank after accessing Online Portal through CSB, ATM/CDM or Net banking and at the same time data will be updated automatically on the Online Portal of Reserve Bank or Central Bank of each nation.

10. The method as claimed in claim 1, the process of purchase of DHVPC through ATMs is described, wherein the registered users can purchase the DHVPC from the ATMs having facility for the issue of DHVPC by incorporating soft ware and special trays; here 3 level authentication viz first level of account holder authentication using ATM pin and selection of purchase option from the menu and entering requirement like DHVPC values and numbers followed by verification with account balance; if there is sufficient balance, confirmation of transaction through OTP number which becomes the 2.sup.nd level of authentication followed by the issuance of DHVPC with DHVPC number unique to the customers which forms the 3.sup.rd level of authentication after debiting the value from the main account window and crediting to the DHVPC window.

11. The method as claimed in claim 1, the process of purchase of DHVPC through the CSBs is described, wherein the Account Holders can purchase the DHVPC from home Bank during which the value will be debited from the main account and credited to the concerned DHVPC Account; here 3 level authentication of account holder viz first level of account holder authentication using account details and selection of purchase option from the menu and entering requirement like DHVPC values and numbers followed by verification with account balance by the CSB officials; if there is sufficient balance, confirmation of transaction through OTP number which becomes the 2.sup.nd level of authentication followed by the issuance of DHVPC with DHVPC number unique to the customers which forms the 3.sup.rd level of authentication after debiting the value from the main account window and crediting to the DHVPC window.

12. The method as claimed in claim 1, the process of surrendering of DHVPC is described, wherein the account holder can also surrender DHVPC to CSBs/CDMs having DHVPC accepting facility during which the value will be debited from the DHVPC account and credited to the main Account; here 3 level authentication of account holder viz first level of account holder authentication using account details by either CSB officials if done through CSB or by using ATM pin by the account holder if done through CDM and selection of surrender option from the menu with 2.sup.nd level of authentication by verifying the authenticity of DHVPC Number with the account holder by the CSB officials; 3.sup.rd level of authentication of account holder by confirmation of transaction through OTP number; then debiting the value from the DHVPC window and crediting to the main window.

13. The method as claimed in claim 1, the process of transfer of DHVPC is described wherein the Account Holders can physically transfer the DHVPC to any other Account Holder through Banks, ATM/CDM or Netbanking, during which the value will be debited from the DHVPC Account of 1.sup.st Party and will be credited to the DHVPC Account of 2.sup.nd Party; here 3 level authentication viz first level of account holder authentication using account details by either CSB officials if done through CSB or by using ATM by the account holder 1 if done through ATM/CDM; the 1.sup.st level of account holder authentication if done through netbanking by using user id and password; after first level authentication, selection of transfer option from the menu with 2.sup.nd level of authentication by verifying the authenticity of DHVPC Number with the account holder; next the authentication of account holder 2 by using account details; then 3.sup.rd level authentication of account holder 1 with OTP number confirmation of transaction; then debiting from the DHVPC window of the account holder one and crediting to the DHVPC window of account holder 2; then if done through CSB, the officials witnessing the physical transfer of DHVPC and update the data; if through ATM/CDM/through netbanking done by the 2 account holders they have to physically transfer the DHVPC/DHVPCs; can be done only when the 2 account holders are together and transaction gets completed only with the physical transfer of the currency from one account holder to another which prevents the online hacking.

14. The method as claimed in claim 1, wherein the value of DHVPC will be protected at each and every time unlike the conventional currency transaction.

15. The method as claimed in claim 1, the process of getting DHVPC or value in case of currency being stolen, lost or damaged by fire is described, where in, in the case of currency being stolen, lost or damaged by fire or any other unforeseen situation, the currency holder will not be losing its value and it will be there with a reasonable penalty or administrative expenses. eg. 1% of its printed value and the value can be credited to their main Account after debiting the penalty or get a new DHVPC; the CSB officials after accessing the online portal do the first level of authentication of the account holder by using his account details report as either lost or stolen or found and then selecting the option of either lost or stolen or damaged by fire; also 2.sup.nd level of authentication by using DHVPC number and 3.sup.rd level of authentication by OTP number authentication can also be done; if DHVCPC holder only likes to get the value, CSB can debit the value from the DHVPC account and credit to the main account; if DHVCPC holder likes to get new DHVPC after getting the value, CSB officials will verify the account balance with the requirements and accordingly issue another DHVPC; simultaneously value will get debited from the main window and credited to the DHVPC window.

16. The method as claimed in claim 1, the over-all process/steps involved in the situation when a third party gets the lost DHVPC is described, wherein in the case of currency being stolen, lost or damaged by fire or any other unforeseen situation, a third party can't use the stolen or lost currency, but if one gets such a currency, he can hand over the same to the nearest branch of any bank and the branch can give a reward to him; third party can't use this DHVPC as he can't do 3 level authentication; that is he/she can't do authentication of account details, authentication of DHVPC number with the account holder and also authentication through OTP; CSB officials access the online portal and then after verifying the authenticity of DHVPC report the same after selecting the option of found from the menu after verifying with the existing report if any; also the details of person who has found the same is also recorded; if the value/new DHVPC is not got by the account holder when the same is lost, the DHVPC will be handed over to the owner or the account holder in case the CSB is the home branch; if the same CSB is not the home branch has to give to the home branch.

17. The method as claimed in claim 1, wherein through this method, the Reserve bank or Central bank of each nation can review/foresee/monitor the currency flow, currency density/concentration in their country at any point of time from anywhere Zonal-wise, State wise, Regional-wise, District wise etc and the Reserve Bank or the Central Bank of each Nation can monitor the DHVPC transactions CSB wise or ATM/CDM wise or Net banking wise or DHVPC wise or Account holder wise.

18. The method as claimed in claim 1, wherein the Registered Commercial and Scheduled Banks can monitor its currency Holders at any point of time from anywhere.

19. The method as claimed in claim 1, the over-all process/steps involved in the monitoring of DHVPC transactions through CSB, wherein, the monitoring of DHVPC transactions can be done by the authorized officials in the Monitoring Cell/Department of the Reserve Bank of India or Central Bank of each Nation who can access the online portal for monitoring using their official user ID and password; from the monitoring window, the officials have to select the Transaction Mode through CSB; after that the monitoring officials can select the name of CSB from the list of CSB's; then the particular branch of CSB and then the duration to be monitored; after displaying the transactions in a particular duration, the monitoring official can select particular transaction for details, if he wants; If requires, a report can be generated at any point of monitoring process.

20. The method as claimed in claim 1, the process of monitoring of transactions through ATM/CDM is described wherein, the monitoring officials can access the online portal utilizing user id and password and then select the Transactions through ATM/CDM of monitoring window; then select the State/Region from the list, then District, then the name of the CSB of ATM/CDM, then select Display the list of ATM/CDM, from that list select the particular ATM/CDM and then enter the duration, then the result will be displayed; after displaying the transactions in a particular duration, the monitoring official can select particular transaction for details, if he wants; if requires, a report can be generated at any point of monitoring process.

21. The method as claimed in claim 1, the process of monitoring of transactions through ATM/CDM is described, wherein, the monitoring officials can access the online portal utilizing user id and password if the ID of a particular ATM/CDM is known, then directly enter the ID of the ATM/CDM, then enter the duration, then the result will be displayed; after displaying the transactions in a particular duration, the monitoring official can select particular transaction for details, if he wants; if requires, a report can be generated at any point of monitoring process.

22. The method as claimed in claim 1, the process of monitoring of transactions through Net banking is described, wherein the monitoring officials after accessing the online portal utilizing user id and password can select the Transactions through Net banking of monitoring window; the monitoring officials then can select the name of the CSB through which Net banking has taken place and then the State/Region of CSB, then the district and then the duration to be monitored; after displaying the transactions in a particular duration, the monitoring official can select particular transaction for details, if he wants; if requires, a report can be generated at any point of monitoring process.

23. The method as claimed in claim 1, the process of monitoring of transactions DHVPC wise is described, wherein, the monitoring officials after accessing the online portal utilizing user id and password can select the Transactions DHVPC wise of monitoring window; then enter the details of the DHVPC, and then the details of all transactions of that particular DHVPC will be displayed; from those details, the monitoring officials can select particular transaction for details, if he wants; if requires, a report can be generated at any point of monitoring process.

24. The method as claimed in claim 1, the process of monitoring of transactions Account holder wise is described wherein, the monitoring officials after accessing the online portal utilizing user id and password can select the Transactions Account holder wise of monitoring window; then enter the details of the Account holder (customer), like name and Account number; then enter the duration, and then the result will be displayed; after displaying the transactions in a particular duration, the monitoring official can select particular transaction for details, if he wants; if requires, a report can be generated at any point of monitoring process.

25. The method as claimed in claim 1, wherein the transactions of each and every DHVPC can be tracked, because every transaction leaving a digital evidence of the same, through which tracking is possible and the Reserve bank or Central bank of each nation can block any number of persons or organizations from this transaction, this will help to unearth various unauthorized and illegal activities using currency.

26. The methods as claimed in claim 1, wherein using the same process/methods, the Low Value Paper Currencies can also be digitalized, like 500, 1000, 2000 etc. . . . , so, its fake currencies/counterfeits can be controlled.

Description

DRAWINGS

[0034] The salient features of the invention are described in detail with reference to various figures showing essential aspects of the invention. Each figure of the drawing illustrates certain features which are briefly described after the drawings.

DRAWINGSBRIEF DESCRIPTION

[0035] Drawing 1 of 29: Pattern of Digitalized High Value Paper Currency (DHVPC)

[0036] This figure illustrating the pattern of the DHVPC for India. Here, mainly highlighted the additional features in the DHVPC compared to conventional paper currency. These additional features of DHVPC like bar code and QR code will help in enhancement of security of the DHVPC. These along with alpha numeric code (already existing feature of conventional low value paper currency incorporated into DHVPC) will be helping in the registration of DHVPC by scanning of codes and simultaneous data updating will take place in the Online Portal and also helps in tracking of transactions. The drawing shows a general outlook of the DHVPC.

[0037] Drawing 2 of 29: Over all Processes of Digitalized High Value Paper Currency-Schematic diagram.

[0038] This figure clearly describing the overall processes of Digitalized High Value Paper Currency. The Reserve Bank/Central bank of each nation has to establish a DHVPC department and under this department there will be 4 major cells namely Printing cell, Registration cell, Distribution cell and Monitoring cell. The Printing Cell will print the DHVPC and Registration cell will register the DHVPCs in the Online Portal of the Reserve bank or Central bank, before its distribution to the CSBs and DHVPC account holders by the Distribution cell. Monitoring cell can monitor all the DHVPC transactions. Monitoring can be done CSB wise, ATM/CDM wise, Net banking wise, Account holder wise and DHVPC wise. The registration of overall details of all transactions of DHVPC will be done in the Online Portal.

[0039] The Commercial and Scheduled banks can access the online portal as Registered Bank, using their user ID and password. The Commercial and Scheduled Banks can distribute the DHVPC to its customers on the basis of their request, using the amount in the account, enter the details of the customers and simultaneously the data gets automatically updated in the Online Portal and makes the customers registered DHVPC Account holders. The Account holders can do transaction (purchase, surrender and transfer of DHVPC) between other customers through Commercial and Scheduled banks or after accessing ATM/CDM or through Net banking. For example, Account holder-1 can transfer physical currency to Account holder-2 through scheduled bank or ATM/CDM or Net-banking to Account holder-2 and simultaneously data updating can be done. Likewise between Account holder-2 and 3.

[0040] Note-For the first time an account holder can get DHVPC only from a branch of CSB or from ATM having facility to issue DHVPC. After getting the DHVPC from CSB or ATM, account holders can transfer DHVPC to any other registered account holder through either CSBs or through net banking or through ATM/CDM.

[0041] Hyperlink in the online portal:The Registered Commercial and Scheduled Banks (CSBs) must have a hyperlink in their website to access the online portal for DHVPC transactions and at the same time to form/create a track record of DHVPC transactions and its sources.

[0042] The First entry of the currency can be done only by the Reserve bank or Central bank in each nation during registration. After this, the Digitalized High Value Currency can be used for transaction through CSB, but every time, the data will get automatically updated in the Online Portal. So, no one can introduce their fake/counterfeit currency into the circulation or system. Thus, it will support to block the entry of fake currency into the circulation.

[0043] Drawing 3 of 29Printing, Registration and Distribution of DHVPCSchematic diagram

[0044] Here it clearly describes regarding the Printing, Registration and Distribution process of DHVPC. An Online Portal will be created by Reserve Bank or Central Bank of each nation for DHVPC transactions. In order to perform the functions the Reserve Bank or Central Bank of each nation should establish a DHVPC Department under which there should be 4 cells-Printing Cell, Registration Cell, Distribution Cell and Monitoring cell.

[0045] The Printing Cell prints the DHVPC and provides the details to Registration cell. The Registration Cell will register all the DHVPCs. Apart from the registration of DHVPCs, it will also register the CSBs and Account holders. After the registration of DHVPC, the Registration Cell will transfer the same to distribution cell. The Distribution Cell will distribute the DHVPCs to CSBs. From a CSB, an account holder can purchase DHVPC. An account holder can first purchase DHVPC only through the CSB counter or through ATM and becomes a DHVPC account holder. An account holder can do transactions through banks, ATM/CDM or through Net banking.

[0046] Drawing 4 of 29: Registration of CSB with Online Portal of Reserve Bank or Central Bank of each nationSchematic diagram

[0047] This drawing describes in detail on the steps in the registration of CSB with Online Portal of Reserve Bank or Central Bank of each nation. For the same purpose, the CSB needs to submit an application to Reserve Bank/Central Bank of each nation. Then the Reserve Bank/Central Bank of each nation will verify the infrastructure and facilities of CSB. If Reserve Bank or Central Bank of each nation is convinced with the infrastructure and facilities of CSB, the Reserve Bank will approve the CSB and then issue a software module which can be linked with the CSB and Online Portal of Reserve Bank/Central bank. Once the CSB is linked with the software module, then it can provide DHVPC registration for CSB and becomes ready for DHVPC transactions. Now the CSB can provide DHVPC registration for its account holders.

[0048] Drawing 5 of 29: Registration of Account Holders by CSB with the Online Portal of Reserve Bank or Central Bank of each nationSchematic diagram.

[0049] This drawing describes in detail the steps involved in Registration of account holder by CSB with the Online Portal of Reserve Bank or Central Bank of each nation. Account holder needs to submit an application to the CSB for DHVPC Registration. To provide DHVPC registration to the account holders of CSB, the CSB should be already registered with the online portal of Reserve Bank or Central Bank of each nation. After approving the application form of Account holder, the CSB will process it, access the Online Portal and will complete the formalities. Another ledger (window) will be opened in the account of the account holder. All the DHVPC transactions will be recorded in this DHVPC window in connection with the main window. At the same time transaction window will be opened in the Online portal of Reserve Bank or Central Bank of each nation. Thus account holder will become a registered Account holder for DHVPC and Account is now ready for DHVPC transactions.

[0050] Drawing 6 of 29: Ledger pages of Conventional and DHVPC Accounts.

[0051] This figure clearly describes the overall process of ledger entry of DHVPC transaction in connection with the main ledger. During the DHVPC registration, an additional window (ledger) for DHVPC transactions will be opened. Simultaneously a window will be opened in the Online portal of Reserve Bank or Central Bank of each nation. In table 1 of Drawing 6, the conventional/main ledger for account is shown where sl. no, date, particulars, credit, debit and balance are shown. In tables 2 and 3 of Drawing 6, the ledger of DHVPC Account Holder 1 and Account Holder-2 respectively are shown where, there are both main window and DHVPC window showing issue of DHVPC to the account of account holder-1, surrender of DHVPC by Account Holder 1 and transfer of DHVPC from Account Holder 1 to 2. During the purchase of DHVPC, the value will be debited from the main account and credited to the DHVPC window (account) of account holder-1 (as shown in table 2). During surrender of DHVPC, the value will be debited from the DHVPC window and credited to the main window of DHVPC holder 1 and 2 (as shown in tables 2 and 3). During transfer of DHVPC from account holder 1 to account holder 2, the value will be debited from the DHVPC window of account holder 1 and credited to the DHVPC window of account holder 2 (as shown in tables 2 and 3).

[0052] Drawing 7 of 29: Transaction Through BanksPurchase and surrendering of DHVPCSchematic diagram.

[0053] It describes in detail about the functions/activities involved in the transaction through Commercial and Scheduled Banks (CSB) regarding purchasing/issuing and surrendering of DHVPC. The CSBs (CSB-1,2 and 3) are different branches of same bank/branches of different bank. The CSBs can do the transactions of DHVPC between CSBs (for example CSB-1 can do transaction of DHVPC with CSB-2, simultaneously data will get updated automatically in the Online Portal and likewise in the same manner between CSB-2 and CSB-3). Assume that account holder-1 is a person holding an account in CSB-1, account holder-2 is a person holding an account in CSB-2 and account holder-3 is a person holding an account in CSB-3. Account holder 1, 2 and 3 can purchase and surrender DHVPC and simultaneously the data will get updated automatically in the Online Portal by their respective home branches of bank (here CSB-1, 2 and 3 as shown in the figure). In general, any account holder can surrender the DHVPC at any CSB, but can purchase DHVPC from only home bank. Account holder-1,2,3 can purchase the DHVPC from the CSB-1,2 and 3 respectively with simultaneous debiting of value from the main account and crediting of value to the DHVPC account of account holders. Account holder-1 can surrender his DHVPC to CSB-2 but can't purchase the DHVPC and after surrendering, the value will be debited from the DHVPC account and credited to the main account of Account Holder-1 (as shown in the figure). Likewise, Account holder-1 can also surrender his DHVPC to CSB-3. Similarly, Account Holder-3 can surrender his DHVPC to CSB-2 but can't purchase the DHVPC from CSB-2 and after surrendering; the value will be debited from the DHVPC account and credited to the main account of Account Holder-3 (as shown in the figure). Likewise, Account holder-3 can surrender his DHVPC to CSB-1. If CSB is different branch of the same bank, then the CSB can access the account on the basis of account details and if the CSB is a different bank, then the CSB can access the account on the basis of the Alpha-Numeric code of DHVPC. The Registered User can surrender the DHVPC at the bank counter and then the value will be debited from the DHVPC account and credited to his main Account.

[0054] Drawing 8 of 29: Transaction through banksTransfer of DHVPCSchematic diagram.

[0055] It describes in detail about the functions/activities involved in the transaction through Commercial/Scheduled Banks (CSBs) and transferring of DHVPC. The CSBs (CSB-1, 2 and 3) are different branches of same bank/branches of different banks. The CSBs can do the transactions of DHVPC between CSBs (for example CSB-1 can do transaction of physical currency with simultaneous data updating with CSB-2 after accessing the online portal and likewise in the same manner between CSB-2 and CSB-3). Account holder-1 can transfer physical currency to Account holder-2 through CSB-1 after CSB-1 access the Online Portal and automatically update the data. (As shown in the figure). Similarly, Account holder-3 can transfer his DHVPC to Account holder-2 through CSB-3. Account holder-3 can also transfer his DHVPC to Account holder-2 through CSB-2. (As shown in the figure). Similarly Account holder-1 can also transfer his DHVPC to Account holder-2 through CSB-2. The main condition for transfer of DHVPC between 2 account holders of different banks is that the transaction should take place at the home bank of the account holder from whom DHVPC is transferred. Here the value will be debited from the DHVPC Account of 1.sup.st Account holder who is transferring DHVPC to another Account holder and the value will be credited to the DHVPC account of 2.sup.nd Account holder. Likewise between Account holder 3 and 2.

[0056] Drawing 9 of 29: Transaction through BanksPurchase of DHVPCProcess diagram.

[0057] This process diagram describes in detail about the overall process/steps involved in the purchase of DHVPC through banks. For this, the Account holder can approach the CSB branch. The CSB branch officials can access the online portal using their ID and then approve the Account holder using his/her details. Then they can select the choice of Purchase from the 3 options-viz-(a). Purchase, (b). Surrender (c). Transfer. A question is displayed on the screen Do you want to purchase DHVPC?. If Yes the CSB officials can enter the requirements of thee account holder and verify it with Account balance or else declined the transaction. If there is any shortage of fund in account, CSB can collect the same in the Account. Then can update the data and issue the DHVPC to the Account Holder after debiting the value from the main account and crediting the value to the DHVPC account of the Account holder.

[0058] Drawing 10 of 29Transaction through BanksSurrender of DHVPCProcess diagram.

[0059] This process diagram describes in detail about the over-all process/steps involved in the surrender of DHVPC through banks. Here, after approving the account holder using Account details, the CSB officials can select the choice of Surrender from the 3 options-viz-(a). Purchase, (b). Surrender (c). Transfer. After verifying the authenticity of DHVPC, a question Do you want to surrender DHVPC? will be displayed on the screen. If yes the transaction will be confirmed through OTP to Account holder or else declined the transaction and after that surrendering of DHVPC to CDM will be done. CDM will verify the DHVPC and if Yes the value will be debited from the DHVPC Account and credited to the main Account of Account Holder and if not correct transaction will be declined.

[0060] Drawing 11 of 29Transaction through BanksTransfer of DHVPCProcess diagram.

[0061] This process diagram describes in detail about the over-all process/steps involved in the transfer of DHVPC through banks. For the transfer of DHVPC to a third party, the CSB officials can verify the details of DHVPC, using its number(Alpha-Numeric Code) and verify the Account holder. Then they can select the choice of Transfer from the 3 options-viz-(a). Purchase, (b). Surrender (c). Transfer. After verifying the authenticity of DHVPC, a question Do you want to transfer DHVPC? will be displayed on the screen. If everything is correct, CSB officials can enter the details of the Second Account holder (Receiving party), who must be a registered Account Holder for DHVPC, otherwise the transaction will be declined. Then the screen will display the details of the Account holder-2 and confirmation will be made to the Account holder-1 through OTP. Then the CSB officials confirm/witness the physical handover of the DHVPC and then update the data. Here the value will be debited from the DHVPC account of the account holder 1 and credited to the DHVPC account of Account holder-2. Then both parties will get confirmation messages to their registered mobile and email.

[0062] Drawing 12 of 29: Transaction through ATMsIssue of DHVPCSchematic diagram.

[0063] It describes in detail about the functions/activities involved in the transaction through ATMs for the issuance of DHVPC. The ATMs are the functional device or extended arms of the Commercial and Scheduled Banks. Here the registered Account Holders for DHVPC (Account holders 1,2 and 3) can get DHVPC from the ATMs, after accessing the ATM using the ATM card of the Commercial and Scheduled Banks(CSBs), provided if the Account holder maintain sufficient fund in the Account. Then the DHVPC will be issued to the Account Holder after debiting the value from the main account and crediting the value to the DHVPC account of the Account holder.

[0064] Drawing 13 of 29: Transaction through ATMsIssue of DHVPCProcess diagram.

[0065] This process diagram describes in detail about the functions/activities involved in the transaction through ATMs for the issuance of DHVPC. The registered Account Holders for DHVPC can get DHVPC from the ATMs, after accessing the ATM using the ATM card and its password, of the Commercial and Scheduled Banks(CSBs), provided if the Account holder maintains sufficient fund in the Account. When the Account holder accesses the online portal, the portal will verify the authenticity of the Account holder. If approved the authenticity, then it can proceed further, otherwise it will be declined. After the approval, the Account holder can choose the Purchase option from the Choice of Selection. A question Do you want to purchase DHVPC? will be displayed on the screen. Then the Account holder can enter his requirements like value of the DHVPC and the number of DHVPC. Then the Online portal will verify the requirements with account balance and if sufficient fund is there in the Account, the DHVPC will be issued, otherwise sufficient fund can be credited to the account. Here value will be debited from the main account and credited to the DHVPC account of the Account holder and then DHVPC will be issued.

[0066] Drawing 14 of 29: Transaction through CDMssurrendering of DHVPCSchematic diagram.

[0067] It describes in detail about the functions/activities involved in the surrendering of DHVPC to CDM and then the value gets credited to the main Account of Account Holder. Then the Account Holder can do the transfer or partial withdrawal of credited money, same like any other conventional transaction. Account holder-1, 2 & 3 are independent Account holders, they can access the CDM and surrender the DHVPC and the value will be debited from the DHVPC window and credited to the respective Account Holder's main account with simultaneous updating of the data. Here the value will be debited from the DHVPC account and credited to the main account of the account holder 1, 2 and 3.

[0068] Drawing 15 of 29: Transaction through CDMsSurrendering of DHVPCProcess diagram.

[0069] This process diagram describes in detail about the over-all process/steps involved in the surrendering of DHVPC to CDM, which has the facility (both hardware and software) to accept DHVPC, and then the value gets credited to the Account Holder's main account. The process begins when the Account holder access the CDM using ATM card. If the ATM card is valid and pin is correct, it will support the further process or else decline the transaction. Then select the DHVPC Surrender from the menu, then enter the DHVPC number. The Online Portal will verify the authenticity of the DHVPC and if it is correct will move to the next step or else will decline the transaction. A question Do you want to surrender DHVPC will be displayed on the screen. If Yes, will go to next step or else decline the transaction. Then, the online portal will sent a confirmation of the transaction through OTP (One Time Password) to the Account Holder to his mobile or email and the same need to be reentered in the CDM. If it is correct, will move to the next step, ie, the door of the currency tray will open or else will reject the transaction. The Account holder can put the DHVPC in the tray and then it will be closed. The CDM will check the authenticity of the currency and if it is correct, the value will be credited to the main Account of Account holder or else the DHVPC will be ejected from the CDM. Here the value will be debited from the DHVPC account and credited to the main account of the account holder. The Account holder will get the transaction slip in both cases.

[0070] Drawing 16 of 29: Transaction through ATM/CDMsTransfer of DHVPC when 2 Account holders are togetherSchematic diagram.

[0071] It describes in detail about the functions/activities involved in the transaction when 2 Account holders are together for DHVPC exchange after accessing the online portal through ATM/CDM. Account holder 1 & 2 are independent Account holders, and whenever Account holder-1 wants to exchange the DHVPC with Account holder-2, the Account holder-1 can access the online portal through ATM/CDM. Then Account holder-1 can physically hand over the DHVPC to Account holder-2 with simultaneous updating of data on the Online portal and similarly from Account holder 2 to account holder 1. The value will be debited from the DHVPC account of Account holder-1 and credited to the DHVPC account of the account holder-2 and vise versa, if the transfer of DHVPC is from Account holder 2 to Account holder 1.

[0072] Drawing 17 of 29: Transaction through ATM/CDMsTransfer of DHVPC when 2 Account holders are togetherProcess diagram.

[0073] This process diagram describes in detail about the overall process/steps involved in the transaction of DHVPC between two Account Holders through ATM/CDM. The two Account holders should be near to each other and physically they have to exchange the DHVPC and updating of the data will take place through online portal. The process begins when the Account holder-1 access the ATM/CDM using his ATM card. If the pin is correct and ATM card is valid, then it will support further process or else decline the transaction. Then select the Transfer from the menu and then enter the DHVPC number (Alpha-Numeric Code). Then a question will be displayed on screen Do you want to transfer DHVPC?. If Yes, will go to next step or else decline the transaction. The Online Portal will verify the authenticity of the DHVPC and if it is correct will move to the next step or else will decline the transaction. Then, the ATM/CDM will ask the details of Account holder-2 and the details will be displayed in the screen. If the details about the Account holder-2 is correct, will move to the next step or else will decline the transaction. Then, the online portal will sent a confirmation of the transaction through OTP (One Time Password) to the Account Holder-1 to his mobile or email and the same need to be entered in the online portal. If it is correct, will move to the next step, ie, the ATM/CDM will ask Whether physically transferred the DHVPC? If Yes, will move to the next step or else decline the transaction. If it is correct, the value will be debited from the DHVPC Account of Account Holder-1 and credited to the DHVPC Account of Account holder-2 and both Account Holders will get confirmation messages and a transaction slip will be given to Account Holder-1.

[0074] Drawing 18 of 29: Transaction through Net bankingTransfer of DHVPCSchematic diagram.

[0075] It describes in detail about the functions/activities involved in the transaction directly through Net banking. The Account Holders can do the transfer of DHVPC between them, after accessing the online portal from anywhere through Net banking. The Account Holders have to access the online portal for data updating and at the same time need to do DHVPC exchange physically. For example if Account holder-1 wishes to transfer the DHVPC to Account holder-2, Account holder-1 can access the online portal and at the same time he has to hand over DHVPC to Account holder-2 with simultaneous automatic data updating in the Online Portal. The value will be debited from the DHVPC Account of Account Holder-1 and credited to the DHVPC Account of Account holder-2 and vice-versa from Account holder-2 to account holder-1.

[0076] Drawing 19 of 29: Transaction through Net bankingTransfer of DHVPCProcess diagram.

[0077] This process diagram describes in detail about the overall process/steps involved in the transfer of DHVPC between two Account Holders through online. The two Account holders should be near to each other and physically they have to exchange the DHVPC and the data updating will take place through online simultaneously. The process begins when the Account holder-1 accesses the online portal using his User Name and password of the Net banking. If the User Name and password is correct, then it will support further process or else decline the transaction. Then select the Transfer from the menu and then enter the DHVPC number (Alpha-Numeric Code). Then a question will be displayed on screen Do you want to transfer DHVPC?. If Yes, will go to next step or else decline the transaction. Then the Online Portal will verify the authenticity of the DHVPC and if it is correct will move to the next step or else will decline the transaction. After that, the Online Portal will ask the details of Account holder-2, after entering the details, the same will be displayed in the screen. If the details of the Account holder-2 is correct, will move to the next step or else will decline the transaction. Then, the Online Portal will sent a confirmation of the transaction through OTP (One Time Password) to the Account Holder-1 to his mobile or email and the same need to be reentered in the online portal. If it is correct, will move to the next step, ie, the Online Portal will ask whether physically transferred the DHVPC? If yes, will move to the next step or else decline the transaction. If it is correct, the value will be debited from the DHVPC Account of Account Holder-1 and credited to the DHVPC Account of Account holder-2 and both Account Holders will get confirmation as a sign of completion of the transaction.

[0078] Drawing 20 of 29: Crediting the value and Getting new DHVPC, when the DHVPC is lost or stolen or damaged by fireSchematic diagram.

[0079] It describes in detail about the crediting the value and getting new DHVPC, when the DHVPC is lost or stolen or damaged by fire. In these unforeseen situations, the Account Holder has to report the same to his/her Commercial and Scheduled Bank. Then, the CSB after verifying the authenticity of the DHVPC will update the same in the online portal and CSB officials can debit the value from the DHVPC account and credit the value to the main account of the Account holder after deducting penalty. The account holder if he wants can also purchase new DHVPC after CSB officials debit the value from the main account and credit the value to the DHVPC account. The account holder can also wait for a preset days (in the case of lost or stolen only), then need to pay the penalty and get a new currency.

[0080] Drawing 21 of 29: Crediting the value and getting new DHVPC, when the DHVPC is lost or stolen or damaged by fireProcess diagram.

[0081] This process diagram describes in detail about the over-all process/steps involved in the situation for crediting the value and getting new DHVPC when DHVPC is lost or stolen or damaged by fire. The DHVPC holder can approach any CSB to report the same, but crediting the value of DHVPC to the account is possible only in the home branch or branches of his/her bank. The CSB officials can access the online portal using their User ID and password and can report the same in the online portal. For this, the officials can select the Report and then select Lost or Stolen or Damaged by Fire, then enter the DHVPC details. Then, if the DHVPC holder likes to get it's value, then the CSB can debit the value to the DHVPC account and credit the value to his/her main Account, after deducting the pre-set penalty. If the DHVPC holder likes to get another DHVPC, then the CSB should verify the requirements of the Account Holder with the account balance and if sufficient fund is there, CSB can issue another DHVPC. If insufficient fund is there, fund can be credited to the main account of the Account holder. Then after debiting the value from the main account and crediting to the DHVPC account of the Account holder the DHVPC will be issued. All these will be automatically updated in the online portal.

[0082] Drawing 22 of 29: When Third party gets the lost DHVPCSchematic diagram.

[0083] It describes in detail about the situations when the lost DHVPC is found by third party. The third party can't use the found DHVPC, rather he/she can handover the same to any CSB and the data can automatically update the same in the online portal, verify the same with the reports given by the Account holder who has lost the DHVPC. If the CSB finds its authenticity, it can give a suitable preset reward to the third party. The CSB can then send back the DHVPC to the Account Holder's branch or else to the Reserve Bank or Central Bank of each nation, if the value of the same is credited to the main Account of Account Holder or else should be given to the lost party (if of the same branch and value not credited to the main account of Account holder). If the DHVPC holder himself gets the lost DHVPC, he/she can also get the same reward given to the third party which is equal to the pre-fixed penalty.

[0084] Drawing 23 of 29: When Third party gets the lost DHVPCProcess diagram.

[0085] This process diagram describes in detail about the over-all process/steps involved in the situation when a third party gets the lost DHVPC. The third party can approach any CSB to hand over the same. The CSB officials can access the online portal using their User ID and password and can report the same in the online portal after verifying the authenticity of DHVPC. For this, the officials can select the Report and then select Found, then have to verify with the existing report if any. Then record the details and identity of the person who has found the DHVPC. If the same DHVPC has been already reported in the Lost or Stolen or damaged category, the same will be displayed on the screen of Online portal of CSB officials, accordingly the CSB can issue the preset rewards to the 3rd party at that time or later. All these will be updated automatically in the online portal. The CSB can then send back the DHVPC to the Account Holder's branch or else to the Reserve Bank or Central Bank of each nation, if the value of the same is credited to the main Account of Account Holder or else should be given to the lost party (if of the same branch and value not credited to the main account of Account holder). If the DHVPC holder himself gets the lost DHVPC, he/she can also get the same reward given to the third party which is equal to the pre-fixed penalty.

[0086] Drawing 24 of 29: Monitoring process of Transactions by Reserve Bank or Central Bank of each nationSchematic diagram.

[0087] It describes in detail about the monitoring process of all DHVPC transactions by Reserve Bank or the Central Bank of each Nation. The Reserve Bank or the Central Bank of each Nation can monitor the DHVPC transaction CSB wise or ATM/CDM wise or Net Banking Wise or DHVPC wise or Account holder wise. For example, in case of CSB wise monitoring, Reserve Bank or Central Bank of each nation can monitor the transactions between CSB-1 and CSB-2. Likewise it can monitor the transactions between CSB-2 and CSB-3 and so on.

[0088] In case of monitoring of transaction by surrendering DHVPC through CDM and issuing DHVPC through ATM, Reserve Bank/central bank of each nation can monitor the transactions through ATM/CDM (Here ATM/CDM-1,2 3 and so on). In case of monitoring of transactions through Net banking, Reserve Bank can monitor exchange of physical currency and simultaneous data updating from account holder 1 to account holder 2 and likewise between account holder 2 and 3 and so on. In DHVPC wise transactions, Reserve Bank can monitor the overall transactions of DHVPC 1, 2, 3 etc. In Account holder wise transactions, Reserve Bank can monitor the transactions between Account holders 1, 2,3 etc.

[0089] The officials of Reserve Bank or the Central Bank of each nation can access the online portal for monitoring purpose. Then, the monitoring can be done CSB wise or ATM/CDM wise or Net banking wise or Account holder wise or DHVPC wise. Again, monitoring can be done on the basis of particular duration, particular State, District etc.

[0090] Drawing 25 of 29: Monitoring process of Transactions through CSB by Reserve Bank or Central Bank of each nationProcess diagram.

[0091] This process diagram describes in detail about the over-all process/steps involved in the monitoring of DHVPC transactions through CSB. The monitoring of DHVPC transactions can be done by the authorized officials in the Monitoring Cell/Department of the Reserve Bank of India or Central Bank of each Nation. These authorized officials can access the online portal using their official user ID and password, only for the purpose of monitoring. They are not authorized to do any other kind of activity in the online portal. If the user ID and password is incorrect, access will be declined.

[0092] After accessing the online portal, a monitoring window will be displayed before them. From the monitoring window, the officials have to select the Transaction Mode, which includes (a). Transaction through CSB, (b). Transaction through ATM/CDM, (c). Transaction through online, (d). DHVPC wise and (e). Account holder wise. Here they have to select a. transaction through CSB. After that the monitoring officials can select the name of CSB from the list of CSB's, then the particular branch of CSB and then the duration to be monitored. After displaying the transactions in a particular duration, the monitoring official can select particular transaction for details, if he wants. If requires, a report can be generated at any point of monitoring process.

[0093] Drawing 26 of 29: Monitoring process of Transactions through ATM/CDM by Reserve Bank or Central Bank of each nationProcess diagram.

[0094] In the case of monitoring of transactions through ATM/CDM, the monitoring officials can select the Transactions through ATM/CDM of monitoring window. Then select the State/Region from the list, then District, then the name of the CSB of ATM/CDM, then select Display the list of ATM/CDM, from that list select the particular ATM/CDM and then enter the duration, then the result will be displayed. After displaying the transactions in a particular duration, the monitoring official can select particular transaction for details, if he wants. If requires, a report can be generated at any point of monitoring process.

[0095] In the case of monitoring of transactions through ATM/CDM, if the ID of a particular ATM/CDM is known, then directly enter then ID of the ATM/CDM, then enter the duration, then the result will be displayed. After displaying the transactions in a particular duration, the monitoring official can select particular transaction for details, if he wants. If requires, a report can be generated at any point of monitoring process.

[0096] Drawing 27 of 29: Monitoring process of Transactions through Net banking by Reserve Bank or Central Bank of each nationProcess diagram.

[0097] In the case of monitoring of transactions through Net banking, the monitoring officials can select the Transactions through Net banking of monitoring window. The monitoring officials then can select the name of the CSB through which Net banking has taken place and then the State/Region of CSB, then the district and then the duration to be monitored. After displaying the transactions in a particular duration, the monitoring official can select particular transaction for details, if he wants. If requires, a report can be generated at any point of monitoring process.

[0098] Drawing 28 of 29: Monitoring process of DHVPC wise Transactions by Reserve Bank or Central Bank of each nationProcess diagram.

[0099] In the case of monitoring of transactions DHVPC wise, the monitoring officials can select the Transactions DHVPC wise of monitoring window. Then enter the details of the DHVPC, and then the details of all transactions of that particular DHVPC will be displayed. From those details, the monitoring officials can select particular transaction for details, if he wants. If requires, a report can be generated at any point of monitoring process.

[0100] Drawing 29 of 29: Monitoring process of Account holder wise Transactions by Reserve Bank or Central Bank of each nationProcess diagram.

[0101] In the case of monitoring of Transactions Account holder wise, the monitoring officials can select the Transactions Account holder wise of monitoring window. Then enter the details of the Account holder (customer), like name and Account number. Then enter the duration, and then the result will be displayed. After displaying the transactions in a particular duration, the monitoring official can select particular transaction for details, if he wants. If requires, a report can be generated at any point of monitoring process.

PATENT CITATIONS

[0102]

TABLE-US-00001 Date of Cited Filing Publication Applicant/ Patent Isuue of the Patent Title date date Inventor Number Patent Barcode Classifying 20 Oct. 1949 7 Oct. 1952 Woodland U.S. Pat. No. 7 Oct. 1952 apparatus and Silver 2,612,994 and method QR Code Method for 9 Jul. 2003 14 Feb. 2006 Masohira U.S. Pat. No. 14 Feb. 2006 displaying Hara U.S. 6,997,384 B2 and reading information code for commercial transaction