NEWS & ADVICE : SAVINGS ACCOUNTS
RBI plans to introduce plastic notes on trial basis
By Neelima Shankar
Apr 17, 2013
Print    Email    RSS   

The Reserve Bank of India is planning to introduce plastic notes on a trial basis, said Mr. K.C. Chakrabarty, Deputy Governor of RBI.

Replying to a question on plastic notes, on the sidelines of a ‘Town Hall Meet' organised by the Banking Ombudsman of Karnataka, Mr. Chakrabarty said plastic notes of Rs 10 denomination will be introduced on a trial basis, in few cities.

This is part of a move targeting at increasing the life of notes and combating counterfeit currency.

Earlier, replying to a query by a bank customer on the soiled and torn notes, Mr. Chakarbarty said the average life of a currency note is less than nine months.

One of the participants said that customers are put to discomfort when the bank officials find fake notes while paying at the counters, though the amount was withdrawn from ATMs. In such a situation, there should be a mechanism for customers to check the genuineness money withdrawn from ATMs.


 


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

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Savings account portability: How...
Carnival of Indian Personal Finance Blogs #6
Carnival of Indian Personal Finance Blogs #4
Carnival of Indian Personal Finance Blogs #3
PPF- How good an investment option!!


I WANT MY ACCOUNT 6 MOUNTH STATEMENT
A/C NUMBER CHECKING
benfits of para militari atm card
what is my CIF no. which is not clear on my pass book
I want to know my account details from 24.03.2017 to...
I WANT TO DETAILS OF SBI A/C NO IS 36051269987

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