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India to introduce Plastic Currency Notes

March 12, 2013‐ New Delhi, India

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. The field trial will be conducted in five cities viz. Kochi, Mysore, Jaipur, Bhubaneswar and Shimla with varied geographical locations and climatic conditions.

Reserve Bank of India has informed that while the primary objective of introduction of polymer notes is to increase its life, it could also help in combating counterfeiting.

This was stated by Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Rajya Sabha today.

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DSM/RS/rs

(Release ID :93507)

Source: PIB

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