Soon, plastic currency notes will be a reality in India

[rahul1117kumar]

Plastic currency notes will soon become a reality in India. The Parliament was informed on Friday that procurement process for required material has already begun.

"It has been decided to print bank notes based on plastic/polymer substrate. The process of procurement has been initiated," Minister of State for Finance Arjun Ram Meghwal said in a written reply in the Lok Sabha.

Meghwal said that on December 11, 2015 it was informed by the Reserve Bank of India that they received some Rs 1,000 denomination without the security thread.

These notes were printed at the Currency Note Press at Nashik in Maharashtra on paper supplied by Security Paper Mill (SPM), Hoshangabad, the minister said.

Soon, plastic currency notes will be a reality in India | Zee News

 

[rahul1117kumar]

Countries Where Plastic Currency is in Vogue

As environmental impact, counterfeiting and other issues plague the paper currency, many countries have opted for polymer or plastic notes. Here’s a look:

(1) Plastic notes were first issued by Australia in 1988 and the country now plans to issue a new series of notes starting with AUS dollar 5 bills.

(2) At least 20 countries, including Canada, Fiji, Australia, Mauritius, New Zealand, Papua New Guinea, Romania, Vietnam and Britain, have been using the polymer currency.

(3) According to a Bank of Canada study in 2011, a polymer note assures 32 percent reduction in global warming and 30 percent reduction in energy demand compared to paper notes.

(4) An IMF report says the plastic currency provides a wide range of benefits, including security features and durability, apart from being environment-friendly.

(5) With signatories ratifying the Paris Agreement on climate change, more and countries are striving to adopt polymer notes. Recently, the Bank of England, after a three-year study, launched a polymer £5 note in September 2016.

Countries Where Plastic Currency is in Vogue - News18

 

[wewake]

Plastic Notes

Soon Indian News Channels will give reports like "FASAI confirms plastic in kurkure, 100 tons of kurkure will be used by RBI #KurkureBan"

While Hindi Media will be like "कुरकुरे से जाली करेंसी बना रहे 2 युवक भारी नकदी के साथ गिरफ्तार"

 

[iSK]

Wow notes now on Plastic c