RBI to launch plastic Rs.10 currency
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If you remember I have already posted about the Rs.10 plastic currency in India. This move by RBI is due to the increase number of fake notes in the country. As per the latest survey, in the recent times the fake notes have significantly increased in the market. To eliminate the fake notes, there should be proper mechanism for reducing the person who print the fake notes. Also RBI have talked about setting the ATMs with the fake note detectors. Last week RBI announce that the Rs.10 notes will be released to the publicj very soon. Hope the new plastic notes will eliminate the fake notes.
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R.Sajan said:
As for plastic currency, it 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 11th, 2010 at 4:42 am
