Govt to float plastic currency notes
New Delhi, Mar 12 : The government on Tuesday said it will introduce one billion pieces of Rs. 10 notes in polymer/plastic on a field trial basis.
"It has been decided by the Government of India and the RBI to introduce one billion pieces of Rs. 10 notes in polymer/plastic on a field trial basis," said Minister of State for Finance Namo Narain Meena in written reply to a question in Rajya Sabha on Tuesday.
"The field trial will be conducted in five cities viz. Kochi, Mysore, Jaipur, Bhubaneswar and Shimla with varied geographical locations and climatic conditions," said Meena.
The Reserve Bank of India (RBI) has informed that while the primary objective of introduction of polymer notes is to increase its life, it could also help in combating counterfeiting.