Central Banking

Reserve Bank of India to trial ‘plastic banknotes’

Reserve Bank of India

The Reserve Bank of India (RBI) will trial "plastic banknotes" in the coming year, the central bank revealed in its latest annual report, as it looks to update its currency and keep counterfeiters at bay.

This marks the climax of a long debate about the merits of printing on a plastic substrate – commonly referred to as polymer – in the country, which has intensified since Raghuram Rajan's appointment as governor last year.

Polymer is in the ascension. Central Banking understands there are 27

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