RBI to introduce 100 crore Rs 10 plastic notes

New Delhi, Sep 8 (PTI) Soiled notes may soon be a thing
of past with the Reserve Bank of India (RBI) planning to
introduce Rs 10 polymer banknotes whose life span would be 4
times the normal currency notes and would be difficult to
imitate.

The apex bank has initially decided to introduce 100
crore pieces of Rs 10 polymer notes, for which it has floated
a global tender, a senior central bank official told PTI.

Explaining the rationale for introduction of polymer
notes, the official said, these notes would have an average
life span of 5 years compared to one year for the currency
notes.

Besides, the official said, these notes are cleaner than
paper notes and it would be difficult to counterfeit the
currency.

The polymer notes were first introduced in Australia
to safeguard against counterfeiting of currency.
Besides Australia, other countries which have introduced
plastic notes include New Zealand, Papua New Guinea, Romania,
Bermuda, Brunei and Vietnam. MORE PTI DP
SDE


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