RBI Plastic Currency Notes Update: The government informed Parliament that there is no proposal to completely switch to plastic notes. Only trials are currently underway.
Modi Government Approves Polymer Notes: The Reserve Bank of India (RBI) submitted a proposal to the Modi government at the center to print plastic currency, which the government has approved. This means that polymer notes in the denominations of 10 and 20 rupees will soon be seen in the country. The government itself announced this in Parliament. According to this, a trial will be conducted. If successful, they will be regularized. The government has also clarified that the printing of these notes will not affect paper currency.
According to the central government, 100 crore notes of 10 and 20 rupees will be printed as a trial. If this trial is successful, printing of these notes will continue. The government has approved this proposal of the RBI. The government stated that plastic notes will soon be in circulation, but this does not mean that paper notes will be discontinued.
Only 100 crore notes will be printed for a trial.
The government informed Parliament that there is no proposal to completely switch to plastic notes. It is only a trial run, as the lifespan of these notes is much longer than paper notes. Therefore, only 100 crore notes of 10 and 20 rupees will be printed as a trial.
Plastic notes are printed in 50 countries.
It is worth noting that plastic notes are used in more than 50 countries because they are claimed to be more durable than paper and more difficult to counterfeit. According to media sources, tenders have also been issued for printing the new notes.
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