Indian banks in a fix over 'no staples' policy

The Reserve Bank of India's recent decision to do away with stapling of new currency notes to increase the longevity of the notes has come under fire.

Bankers say that the 'no staple' practice, though widely prevalent worldwide, was still premature for adoption in India, where the transactions were mostly done in cash and not by swiping the credit card.

Voicing apprehension about the apex bank's resolve in wrapping the loose notes with a paper or plastic band (around each packet), instead of

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