You are here: Home » Economy & Policy » News » Demonetisation
Business Standard

Govt to conduct field trial of plastic banknotes

Rs 10 notes to be tested in 5 places, amid complaints of fake Rs 500 and Rs 2,000 notes

Arup Roychoudhury  |  New Delhi 

demonetisation, note ban, cash, rupee, 500, 1000, 10, 20, currency, notes
Representational image only. Photo: Shutterstock

The government will conduct a field trial with at five locations of the country, Minister of State for Finance said in a written reply to on Friday.

The reason for such a move is that are expected to last longer than cotton substrate-based banknotes, Meghwal said.



“It has been decided to conduct a field trial with at five locations of the country. Approval for procurement of plastic substrate and printing of bank notes of Rs 10 denomination on plastic banknote substrates has been conveyed to the Reserve Bank of India,” Meghwal said as per an official statement by the Finance Ministry.

“Over the years, central banks across the world have been exploring different solutions for extending the lifecycle of banknotes. These include introduction of and other developments in banknote substrates for enhancing durability including use of natural fibre blends, varnish of banknotes etc,” the statement said.

Such a move comes even as banks and the RBI deal with multiple complaints of fake Rs 500 and Rs 2,000 notes being dispensed by There have also been cases of notes being dispensed without requisite features.

Govt to conduct field trial of plastic banknotes

Rs 10 notes to be tested in 5 places, amid complaints of fake Rs 500 and Rs 2,000 notes

Rs 10 notes to be tested in 5 places, amid complaints of fake Rs 500 and Rs 2,000 notes The government will conduct a field trial with at five locations of the country, Minister of State for Finance said in a written reply to on Friday.

The reason for such a move is that are expected to last longer than cotton substrate-based banknotes, Meghwal said.

“It has been decided to conduct a field trial with at five locations of the country. Approval for procurement of plastic substrate and printing of bank notes of Rs 10 denomination on plastic banknote substrates has been conveyed to the Reserve Bank of India,” Meghwal said as per an official statement by the Finance Ministry.

“Over the years, central banks across the world have been exploring different solutions for extending the lifecycle of banknotes. These include introduction of and other developments in banknote substrates for enhancing durability including use of natural fibre blends, varnish of banknotes etc,” the statement said.

Such a move comes even as banks and the RBI deal with multiple complaints of fake Rs 500 and Rs 2,000 notes being dispensed by There have also been cases of notes being dispensed without requisite features.
image
Business Standard
177 22

Govt to conduct field trial of plastic banknotes

Rs 10 notes to be tested in 5 places, amid complaints of fake Rs 500 and Rs 2,000 notes

The government will conduct a field trial with at five locations of the country, Minister of State for Finance said in a written reply to on Friday.

The reason for such a move is that are expected to last longer than cotton substrate-based banknotes, Meghwal said.

“It has been decided to conduct a field trial with at five locations of the country. Approval for procurement of plastic substrate and printing of bank notes of Rs 10 denomination on plastic banknote substrates has been conveyed to the Reserve Bank of India,” Meghwal said as per an official statement by the Finance Ministry.

“Over the years, central banks across the world have been exploring different solutions for extending the lifecycle of banknotes. These include introduction of and other developments in banknote substrates for enhancing durability including use of natural fibre blends, varnish of banknotes etc,” the statement said.

Such a move comes even as banks and the RBI deal with multiple complaints of fake Rs 500 and Rs 2,000 notes being dispensed by There have also been cases of notes being dispensed without requisite features.

image
Business Standard
177 22