Govt to launch Rs 10 plastic notes in 5 cities

NEW DELHI, MAR 12:  

Government will introduce one billion pieces of Rs 10 bank notes made of plastic on a field trial basis in five cities, Minister of State for Finance said in Parliament today.

“It has been decided by the government and the RBI (Reserve Bank of India) to introduce one billion pieces of Rs 10 notes in polymer/plastic on a field trial basis,” Minister of State for Finance Namo Narain Meena said in a written reply to the Rajya Sabha.

The minister said the field trail will be conducted in five cities — Kochi, Mysore, Jaipur, Bhubhaneswar and Shimla with varied geographical locations and climatic conditions.

“RBI has informed that while the primary objective of introduction of polymer notes is to increase its life, it could also help in combating counterfeiting,” he added.

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