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RBI to introduce plastic notes of Rs 10 denomination on trial basis: Chakrabarty

By Religare
RBI to introduce plastic notes of Rs 10 denomination
The Reserve Bank of India (RBI) deputy governor KC Chakrabarty on Tuesday said that central bank will introduce plastic notes of Rs 10 denomination on a trial basis, in select cities.

Chakrabarty, attending the 'Town Hall Meet' organised by the Banking Ombudsman of Karnataka in Mangalore, said that the purpose of issuing plastic notes is to increase their life and also combat counterfeit currency.

On the issue of torn notes in the system, Chakrabarty said the average life of a currency note is less than nine months. When asked about why a bank official writes on currency note, when no one is supposed to write anything on it, Charabarty said the bank employees too are part of the society "we live in". He advised that society should avoid writing on currency notes.

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