Polymer experiment for currency
 

TNN

New Delhi, India

05.09.07

As government looks to tackle the menace of fake currency notes, it is also planning an experiment with polymer notes.

The drive will include changes in security features in not just currency notes but also high-value stamp papers. Government is toying with the idea of using currency paper to print high-value stamp papers too though large costs are involved.

The safety exercise is considered imperative because of rising volume of counterfeit currency and evidence that Pakistan’s ISI, was, besides stoking anti-India terrorism, engaged in economic subversion.

High metal prices are also taking a toll on mints. RBI has admitted it has had to step up the order for new coins since there were many instances of melting of coins.

But with reports of coins, specially Re 1, being hollowed in the middle to be used as washers, government has decided to look for new designs. So, the old Rs 2 coin, which did not have round edges, could make a comeback.