Introduction of polymer rupee currency by RBI notes to combat fake currency racket

.....First step from RBI, one would expect, is to announce that they intend to switch over to polymer plastic currency within a particular time frame. If this is considered as letting the cat out of the bag, then, without much publicity, we ought to introduce these polymer based currency notes in high value of Rs500 and Rs1,000. Within a scheduled time frame, we need to mop up the paper currency of these denominations and replace them totally. Only then the FICN can be prevented from entering the country.......

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