In a first, ICICI Bank deploys ‘Robotic Arms’ for currency sorting at its chests

In a first, ICICI Bank deploys ‘Robotic Arms’ for currency sorting at its chests

• ICICI Bank has become the first in the country to deploy industrial ‘Robotic Arms’ to count currency notes at its currency chests across the country.

• ICICI Bank has deployed 14 industrial ‘Robotic Arms’ in 12 cities. It will help sort over six million notes on all working days, or about 1.80 billion notes annually.

• How the robotic arm works: Each industrial robotic arm feeds unprocessed cash in three high-end note-sorting machines simultaneously, picks up processed cash from the output stackers, aligns the loose notes, binds the packets and finally drops them in the respective trays as per the quality of the note. 

Points to remember:

1. Which bank has become the first in the country to deploy industrial ‘Robotic Arms’ to count currency notes?