India to Introduce Plastic Bank Notes

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Sept. 9 – The Reserve Bank of India is set to introduce plastic bank notes in the ten rupee denomination.

The plastic bank notes would last longer by 4 years compared to one year for normal currency notes in addition to also being harder to counterfeit.

The bank has initially decided to introduce 1 billion of the polymer notes, for which it has floated a global tender, a senior central bank official told The Economic Times of India.

The official added that the plastic notes would be cleaner than paper notes. India would not be the first country to introduce plastic notes. Australia,  New Zealand, Papua New Guinea, Romania, Bermuda, Brunei and Vietnam also have such notes to counter fakes.

6 thoughts on “India to Introduce Plastic Bank Notes

    Indian says:

    I really would like to see plastic notes introduced as early as possible…..I heard it is very hard, if not impossible to counterfeit…..Thats a good thing…..

    Why wait so long…..better go for it as early as possible….

    Nirmal says:

    good to hear…..

    Manoj says:

    Great. Go on India

    abey says:

    great idea but not with 10’s do it with 1000 and 500 ‘s where u see the difference…….. and make it immediate…..where india will grow as never expected

    SRI HARSHITH RAJAM says:

    I am eager to see the entire Indian currency system filled with polymer. As this revolutionary change would eliminate problems like counterfeit and improves life of currency , this is really necessary .

    sooraj prakash dwivedi says:

    it will help in stopping blackmoney tranjection.rbi should take this decision soon.

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