May 9, 2013 8:49 AM

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RBI to introduce plastic currency notes on a pilot basis

The Reserve Bank of India, RBI, will soon introduce plastic currency notes on a pilot basis.This was disclosed by RBI Governor D Subbarao during an interactive session with students of Business School of Kashmir University in Srinagar on Wednesday. He said, plastic note is environment-friendly because it has longer shelf-life than the paper notes.In another development, the RBI has asked banks to levy cheque return charges only if the customers are at fault.

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