VIJAYAWADA, DEC 23: The Reserve Bank of India ( RBI) will soon bring into circulation ‘ plastic currency’ on an experimental basis. Disclosing this here last night, while addressing a programme, RBI Governor D Subba Rao said the environmental clearance was obtained for the experiment. He said the proposal of plastic currency had been there for 15 years and would be conceptlised on experimental basis soon. He said he had got opinion from people that preserving of plastic currency might be difficult for the rural people. He said the RBI was advising banks not to circulate mutilated and torn notes as it got complaints from the general public. Subba Rao said it was utmost responsibility of the RBI to ensure that all banks functioned well. If a bank incurred became bankcrupt, it would affect other banks too, he added. He informed that in Andhra Pradesh, out of 6,600 villages 5,800 villages had bank branches or bank correspondent under the programme of 100 per cent financial inclusion. “Opening bank account alone is not sufficient. They should be operated which is the objective of the scheme,” he said and asked the bankers to ensure the villagers operate their account.
Meghalaya Guardian
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