RBI working to give banknotes in your pocket a longer lease on life

The Reserve Bank of India (RBI) is looking into ways to make banknotes last longer. This includes applying surface coatings to existing notes and introducing polymer notes for smaller denominations. The goal is to reduce the need for frequent replacements and minimize waste. The move could also help reduce costs for banks and the government, which currently spend a significant amount on producing and distributing new banknotes.

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The RBI is exploring ways to extend the life of banknotes. This could lead to cost savings and improved efficiency in the banking system.

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