RBI PLANING TO INTRODUCE PLASTIC CURRENCY NOTES
The Reserve Bank of India (RBI) is planning to introduce plastic currency notes next year on a pilot basis and improve security features to defeat the efforts of counterfeiters.
"The Reserve Bank of India is also looking at other alternatives for improving the life of bank notes,'' the central bank said in its annual report for 2013-14. The central bank floated a tender for plastic currency notes in January after years of deliberation. Depending on the trial, the notes should be introduced widely next year.
(Credits : TimesofIndia)