RBI to issue polymer currency notes

RBI to issue polymer currency notes

The Reserve Bank of India (RBI) will come out with polymer (plastic) notes of Rs. 10 denomination by the end of this year and follow it up with such notes of Rs. 20 and Rs. 50 denominations. The Rs. 10 notes are in maximum circulation with comparitively higher production cost

Polymer notes are already in circulation in countries such as New Zealand, Sri Lanka, Malaysia and Hong Kong. Instead of importing plastic notes from these countries, RBI has decided to produce them internally.

The polymer (plastic) currency notes have more safety features and more difficult to fake them.

One Response to “RBI to issue polymer currency notes”

  1. R.Sajan says:

    This is a bigger bribe story than the arms deals. Securency International, which holds the universal monopoly patent for plastic currency, is under investigation even in its own country Australia for massive bribing of officials of international governments. How much did they pay in India? They have been trying to sell plastic currency that is totally unsuitable in the tropics, to India from 2001. The Clean Note policy of the RBI was the first scheme to bring in plastic currency. Having to recycle every 6 months, plastic currency is difficult to sustain. Also, it cannot be folded.