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Say hello to Plastic Currency Notes!
The government has taken the decision of printing plastic currency notes and the procurement of the material has started.
“It has been decided to print banknotes based on plastic or polymer substrate. The process of procurement has been initiated,” Minister of State for Finance Arjun Ram Meghwal said in a written reply in Lok Sabha to a query whether RBI proposes to print plastic currency notes in place of paper ones.
Earlier, in February 2014, the government had informed Parliament about introducing one billion plastic notes of Rs 10 denomination for trial in 5 selected cities. The selected cities were Kochi, Mysore, Jaipur, Shimla and Bhubaneswar.
Meghwal further said action has been taken to strengthen quality procedure and online inspection system in the manufacturing process and special training has been given to the persons concerned to avoid such types of mistakes in future.