NEWS & ADVICE : SAVINGS ACCOUNTS
Plastic Notes to be launched by next year : RBI
By Vaibhav Aggarwal
Aug 22, 2014
Print    Email    RSS   

The apex bank of the country – Reserve bank has decided to come up with the plastic notes by the next year. In order to reduce the problems of fake currency the bank is planning to launch the plastic form of notes.

This will enhance the security and will bring more efficiency in the payment system. From past few years bank is working on this concept and looking forward for other measures as well that can help to improve the life of the notes. Initially the notes will be introduced in five cities first and then on the basis of results of pilot testing they will be launched on a larger scale.

Notes of the lower denominations will be use for the pilot testing. These notes will be costlier than the than cotton-fibre based paper currency, however they will have advantages of being stain proof and will not get torn so easily.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Carnival of Indian Personal Finance Blogs #6
PPF- How good an investment option!!
Credit profile and its effect on loan...
Steps to file Income Tax return online
How to check balance in savings bank account


How to know pnb account balance
I forgot my signature in bank dealing. How would i...
I forgot my signature in bank dealing. How would i...
How to find the canara bank ifsc code?
Sir my name is ronie fuentes i want to change my old...
How can i change my account mobile number

NEWS THIS WEEK
HDFC bank adjudged as the Best private bank in India Feb 16, 2015
HDFC reported an increase of 20% in its net profit Feb 16, 2015
ICICI bank launched Flash remit facility Feb 13, 2015
BOM launched new savings deposit scheme for HNI customers Feb 12, 2015
BMB bank to have a total of 80 branches by the March end. Feb 10, 2015
News Archive