Plastic Currency Notes In India - Advantages & Disadvantages

Replies

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  Ankita Katdare

  Interesting question.
  
  Advantages -
  As you mentioned, the plastic notes will last much longer than classic paper notes (thus reducing the cost of replacement by a significant amount).
  Other than that, they won't get easily damaged by dirt and excessive handling in rough conditions.
  Another quite major feature would be that they security features on these notes will be easy to verify as well as quite difficult to counterfeit.
  
  Disadvantages -
  Counting them might be bit of a task. Remember those efficient old bankers, who count the bundles of thousands of rupees within seconds? That might not be possible.
  The authorities might also have to bear the cost of replacing the ATMs or vending machines (and other automatic payment devices) that issue money. Will the new plastic notes be compatible with those?
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  Anoop Mathew

  Kuwait just switched from Paper to Plastic currencies. Looking at these currencies, I can say that they are better in 'built-quality' but somewhat does not 'feel' like money. That's the only issue.
  
  Another issue that could creep out is that we'd need bigger purses to hold more cash as plastic is more 'harder' than Paper and bunch of those would definitely 'add' weight/area to the purse.
  
  Other than that, I don't see an issue in recycling plastic in this most-efficient manner. Atleast no one will 'throw' away the money like they throw away plastic bags.
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  Anoop Kumar

  This is most awaited thing to implement in India. Top advantage is plastic notes are more secure, tough to counterfeit.
  
  PS: Discussing of currency, watch this movie Die Fälscher (2007) - IMDb, based on true story.
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  Kaustubh Katdare

  These notes could get some chips that make it easier for machines to count them. #-Link-Snipped-# - do you think that's a possibility?
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  Ramani Aswath

  We are assuming that plastic means a monolithic sheet. Plastic can be made like paper. I use Dupont Tyvek for medical packaging. Tyvek looks and feel like paper, yet water, puncture and tear resistant.
  
  Anoop Mathew can continue using his existing wallet. But by the time this becomes a reality his pay may go up enough to require a briefcase instead of a wallet.
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  Sarathkumar Chandrasekaran

  I would be glad if it was tested in TN.
  HOPE THIS BECOMES REALITY SOONER.
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  Harshad Italiya

  Kaustubh Katdare

  These notes could get some chips that make it easier for machines to count them. #-Link-Snipped-# - do you think that's a possibility?

  But it will increase the value of printing itself and Electronic chip might have better way to temper or hack.
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  Satya Swaroop Dash

  Reports suggest that RBI might start by circulating Rs. 10 notes in these cities. This might be quite expensive but worth a try.
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  Kaustubh Katdare

  Curious to know if there's any update on this? Has the government rolled out plastic currency notes yet?