RBI to release plastic currency notes of ten rupees denomination | Problems of torn, crushed, stained notes can be prevented by using plastic currency notes

August 24th, 2010| In India.


RBI to release plastic currency notes of ten rupees denomination | Problems of torn, crushed, stained notes can be prevented by using plastic currency notes

Crushed, stained and torn currency notes are going to disappear soon.  Reserve bank is going to release new 10 rupee notes made with polymer plastic in the end of this year.  Other denomination plastic notes are also will be introduced.  RBI is getting ready to issue these polymer notes after observing the state of currency notes made with paper and the expenses incurring in making them.  Plastic notes of 10 rupee denomination will be introduced experimentally first.  Later 20 rupee and 50 rupee notes will be issued.

Australia, New Zealand, Sri Lanka, Malaysia, Hong Kong already is using the polymer notes.  RBI thought of importing notes from these countries in the beginning.  But later taking the security and other reasons into consideration it has been decided to manufacture these notes in India.  Presently more number of ten rupee currency notes is in circulation. The manufacturing cost is also more for these notes.  RBI is expecting to solve the problem of paper notes by replacing them with polymer notes which last long.

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