Plastic currency notes to be introduced on trial basis

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Plastic currency notes to be introduced on trial basis
The Government of India and Reserve Bank of India (RBI) has decided to introduce Rs. 10 notes in polymer/plastic on a field trial basis.

The Reserve Bank of India (RBI) has informed that field trial is proposed to be conducted at five places viz. Jaipur, Shimla, Bhubaneshwar, Mysore and Cochin, keeping in view the varied geographical locations and climatic conditions.

The expenditure proposed to be incurred on the field trial would be finalized in accordance with extant guidelines. These notes were first introduced in Australia to safeguard against counterfeiting of currency.

Polymer notes have relatively longer life compared to the prevailing paper banknotes and may help in checking counterfeiting.

If this field trial is successful one can be tension free of torn notes and counterfeit notes.

Read more about: rbi, government
Story first published: Friday, August 24, 2012, 12:01 [IST]
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