RBI plans to introduce polymer notes

04-Jun-09

Reserve Bank of India (RBI) plans to introduce polymer notes in the country for which it is mulling implementation of a pilot project. The polymer notes will provide notes with longer life, will remaine cleaner than paper notes, will be easily recyclable, provide greater security against counterfeiting and will last four times as long as conventional paper notes. Polymer notes have been introduced in Australia and Hong Kong and the RBI is examining a proposal to start a pilot project for introduction of such notes.