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RBI to introduce plastic notes on trial basis soon

India Infoline News Service/ 18:39 , May 09, 2013

The RBI Governor said that plastic note is environment friendly because it has longer shelf-life than the paper notes

Reserve Bank Governor D Subbarao said that the central bank will soon introduce on trial basis plastic currency notes as they have longer shelf-life.

The RBI Governor was delivering a lecture to economics students to mark the Platinum Jubilee celebrations of Jammu & Kashmir Bank on Wednesday.

He pointed out that plastic note is environment friendly because it has longer shelf-life than the paper notes.

Foreign countries such as Australia and Singapore have introduced plastic currencies.

With a view to enhance the life of bank notes, particularly of lower denominations, it was decided by the RBI and government to introduce one billion pieces of Rs. 10 notes in plastic on a trial basis in Kochi, Mysore, Jaipur, Bhubaneswar and Shimla.

 



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