Rs.10 Plastic notes to be released soon | Plastic currency for minimising the fake notes

March 29th, 2010| Finance.


Rs.10 Plastic notes to be released soon

TO check the problem of fake notes and to improve the durability of notes, Reserve bank of India is going to release ten rupees notes. Firstly, nearly 100 Crores of polymer notes are going to be introduced in five cities. Developed countries like Canada, Australia and others are using polymer currency and these notes are eco friendly when compared to paper notes and also their durability is more. This project has been taken up only after deeply studying about plastic currency and confirming that these plastic notes are better than the presently used paper notes. Nearly 18, 000 metric tons of bank note papers are necessary in India per annum. Supplying companies are less in number and hence there will be problems arising in their price, size and others. Most of the cost is reduced if India produces this amount on its own. When compared internationally, India don’t has fake notes problem at an alarming range.

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