Indigenous currency papers, use of plastic cards to reduce imports, says Finance Minister
The Dollar Business Bureau Use of credit and debit cards instead of cash and manufacturing currency papers within the country, can help India reduce its imports of high-security papers, Finance Minister Arun Jaitley said on Tuesday. Speaking at a conference on “Indigenisation of Currency” held in New Delhi, the minister also advocated for the use of internet transactions through various payment gateways. Jaitley said that developed countries have already shifted towards using plastic cards and online payments and now it is time for India to follow suit. “The developed world has moved substantially to plastic currency and payment gateways. I think there is need for India and our determination is there to gradually take steps to move in that direction,” the minister ...
