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‘Govt may introduce plastic currency to counter fake notes’

Ranchi: The Government is seriously considering introduction of plastic currency notes in the country to check the menace of fake notes, RBI Governor D Subbarao said here today.

“We are seriously considering introducing plastic currency notes in the Indian economy to check the fake currency problem and also for their longevity,” Subbarao said while interacting with students of Ranchi University.

“We will also take into consideration the experience of countries like Australia and New Zealand who have been using plastic notes,” he said.

The problem of fake currency notes being circulated has been affecting the economy and the RBI was taking steps to check it, he said.

The RBI, Subbarao added, was consulting other banks of the country and the Centre on the ways to check the problem.

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