Improving banknote efficiency in India

Vijay Shekhawat

The International Monetary Fund’s World Economic Outlook, published in April this year, states that world GDP will grow at an average rate of 4.05% during the next five years. This, coupled with a world population that has risen by a billion since 2000, has placed unprecedented importance on the effectiveness of currency and other payment instruments to settle transactions. India itself is witnessing an annual population growth of 1.2% and a projected GDP growth of 7.5% in 2016. Monthly per

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