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 .The problem of fake currency notes being circulated has been affecting the economy to a great extent. RBI is preparing stringent standards in this regard and takes steps to check it.
Experience of countries like Australia and New Zeland, who have been using plastic currency since long, will also be taken into consideration before the implementation of this venture.
Australia's plastic money is made of a non-porous polymer with a specially developed protective coating so the notes stay cleaner and don't absorb moisture. After it does wear out, polymer money can also be recycled as plastic products.
The polymer substrate behaves a lot like paper and conventional printing techniques are used to apply ink to the surface. The major security measure is a see-through window which makes the plastic money difficult to reproduce using photocopiers and scanners.
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