Polymer Banknotes – An Alternative for Indi...

Polymer Banknotes – An Alternative for Indian Currency Notes

Author Name : Arunima Asthana, Sonali Ghosh, Tanmoy Kumar Banerjee

ABSTRACT

Paper banknotes are being phased out across a number of countries in favour of a variety of substitute materials that are less likely to be counterfeited, have cheaper production costs, and have a far longer shelf life than paper banknotes. In addition, banknotes made of hybrid polymer materials have been manufactured in a number of countries for reasons that are comparable to those outlined in the previous paragraph. The objective of this paper is to investigate potential replacement materials for Indian banknotes, the demand and circulation patterns of the currency and the benefits of using polymer banknotes.

Keywords: Alternative Material, Currency, Cotton Banknote, Polymer Banknote.