Plastic currency - What is the advantage...?
To counter fake note menace several Governments have experimented with notes of plastic.Australia was the first country in the world to have a complete system of bank notes made from plastic (polymer). These notes provide much greater security against counterfeiting. They also last four times as long as conventional paper (fibrous) notes
Paper banknotes wear out quickly, particularly if they get wet. They are also fairly easy to counterfeit — despite security measures, such as watermarks and having metallic threads within the notes. The emergence of color photocopiers and scanners has made it easier to reproduce paper money.
The polymer substrate behaves a lot like paper and conventional printing techniques are used to apply ink to the surface. The major security measure is a see-through window which makes the plastic money difficult to reproduce using photocopiers and scanners.
India is going to be next country in the fore ray and its booming economy definitely need countermeasures against fake currency which currently is a major stumbling block.
Will the introduction of plastic currency going to solve the issue of fake currency...?