If you are worried about the banknotes which gets damaged in the water or any other circumstances. It is good news that RBI is working on to release the plastic money made on polymer.
Polymer banknotes will have the life four times of normal bank notes. Also RBI official said that it is difficult to replicate the new plastic money. Initially they are releasing Rs.100 crore of Rs.10 notes.
RBI not yet announced when the plastic notes will be released to the public. Let’s wait and watch for the plastic money in our hands.
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August 11, 2010 at 5:02 am
This is a bigger bribe story than the arms deals. Securency International, which holds the universal monopoly patent for plastic currency, is under investigation even in its own country Australia for massive bribing of officials of international governments. How much did they pay in India? They have been trying to sell plastic currency that is totally unsuitable in the tropics, to India from 2001. The Clean Note policy of the RBI was the first scheme to bring in plastic currency. Having to recycle every 6 months, plastic currency is difficult to sustain. Also, it cannot be folded.
August 24, 2012 at 9:23 pm
my question is …how it will help in reducing fake notes in the market?…