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RBI Reaches out to NID for Help Using Shredded Banned Notes
April 24, 2017
To get ideas regarding recycling the banned notes of Rs. 500 and Rs. 1000 the Reserve Bank of India has approached Ahmedabad-based National Institute of Design. The plan is to use the shredded currency notes for making useful products.
According to a report, about 200 kg of shredded notes have been sent to the NID. A team has also been set by the institute director Pradyumna Vyas for the project.
The NID team has already created many products using the waste including a paper weight and table-top sheet, etc. However, to get some more ideas it will be organizing a nationwide competition for college students as well.
