RBI to introduce plastic notes to address fake currency issue

The Lucknow branch of Reserve Bank of India on Tuesday revealed its plan to introduce plastic currency in the market to address the fake currency issue. Amarendra Sahu, Regional Director of RBI, Lucknow, said that stung by the increasing menace of Fake Indian Currency Notes (FICN), the RBI is contemplating introduction of plastic notes in the country. Refusing to divulge further information in this regard, Sahu said that the change in the currency notes would act as a deterrent against those engaged in illegal practice of FICN.