Polymer notes mulled by Reserve Bank of India

17-Sep-09
Reserve Bank of India plans to introduce polymer banknotes of with a life span 4 times that of normal currency notes that are tough to counterfeit. Initially, about 100 crore polymer notes of the denomination of Rs 10 will be put into circulation. Australia was the first country to introduce polymer notes to safeguard against counterfeiting of currency. Besides Australia, other countries which have introduced plastic notes include New Zealand, Papua New Guinea, Romania, Bermuda, Brunei and Vietnam.
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