Plastic currency note is not a brain child of RBI,but could be of New Note Printing Press (NNP),a subsidiary of the RBI.Plastic notes may not prove successful especially for reason of their heviness compared to the paper currency.As it is rightly said,Indian public like to accommodate maximum number of currency in his purse/vallet.Further,none has time to clean & wash the currency notes.If the cost of the manufacturing is more commensurate with their longevity,why not we stick on to the paper currency itself costing less by adopting suitable measures against the counterfeit notes.In any case, cure should never be worse than the disease itself & if the govt, fearing counterfeits, goes for polythene currency,it would indirectly be admiitting its failure to arrest the circulation of fake notes.And human ingenuity being what it is,whether it be paper or polythene,the criminal brains work very fast & would also not go back in bringing out fake notes in polythene too.The problem needs to be addressed in all together a different angle.
it is welcome in India as here also the temdency of people is to squeeze & fold the notes which spoils them early. With polymer notes, the life will definitely increase thereby reducing the cost of printing. In Nigeria, already 20 Naira note is in circulation since many years & it is welcome by all citizen as well giving very good life 7 appearance even after lone period of use. Encouraged by this success, Nigeria government is now planning to print 5, 10 & 50 Naira notes in next one year.
Re: POLYMER CURRENCY NOTES IN INDIA
by Ravi hegde on Sep 17, 2009 08:08 PM
i agree with u man... but how abt this.. that the RBI makes coins which are least prone to damage of any sort..!!! with a longer shelf life... and lesser expense..!! plus.. recycled metal can be used for it to cut costs of minting.!! hopefully this reaches the RBI.. a long time solutions of problems for INdia is needed. than the usual 'chalega attitude'...
