Plasticised PVC cashes in on Fraud

A massive new market for specially produced plasticised PVC film has opened up in India as the country moves to plastic money.

Printing of new Rs 500 denomination currency notes on the extra-thin PVC film has already begun and if all goes well millions of RS 100 and RS 50 denomination notes will follow. The intention is to eventually phase out all paper notes.

The new notes have been introduced by the Reserve Bank of India primarily to try and curb the growing problem of fake currency, but the new notes will also have the added benefit of lasting much longer than existing paper notes and being cleaner.

The Reserve Bank and India’s Finance Ministry say that only the introduction of the PVC notes can solve the fake currency problem that has reached what have been described as ‘unmanageable proportions’ in recent months.

The use of plasticised PVC film has allowed several innovative security features to be incorporated, which it is believed will be virtually impossible for someone to fake.