Saturday, November 29, 2014
Introduction Of Plastic Notes
It has been decided by the Government to introduce plastic notes in the denomination of Rs. 10/-. One billion plastic notes of the denomination of Rs. 10/- will be introduced in a field trial in five cities selected for their geographical and climatic diversity.
The primary objective of introduction of polymer/plastic notes is to increase its life and not to combat counterfeiting. The cities selected for field train are Kochi, Mysore, Jaipur, Shimla and Bhubaneswar.
The Reserve Bank of India has informed that since the proposal is at a trial stage, the decision on replacement of currency notes with plastic notes will depend on the outcome of field trial.
This information was given by the Minister of State for Finance, Shri Jayant Sinha in written reply to a question in Lok Sabha today.