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Union Government to launch 10 Rupees Plastic Notes in 5 Cities

 12-MAR-2013

The Union Government and RBI on 12 March 2013 decided to introduce one billion pieces of 10 Rupees bank notes made of plastic on a field trial basis in five cities.

A 10 Rupees note in polymer/plastic on a field trial basis will be introduced first; Minister of State for Finance Namo Narain Meena said it in a written reply to the Rajya Sabha.

The field trail is supposed to be conducted in five cities of Kochi, Mysore, Jaipur, Bhubhaneswar and Shimla with varied geographical locations and climatic conditions.

As per the RBI, the primary objective of introduction of polymer notes is to increase its life, it could also help in combating counterfeiting.

Various agencies such as the RBI, Ministry of Finance, Ministry of Home Affairs, Security and Intelligence Agencies of the Centre and States, Central Bureau of Investigation are already working in tandem to thwart the illegal activities related to Fake Indian Currency Notes (FICN).

The work of these agencies is periodically reviewed by a nodal group set up for this purpose.



Is this article important for exams ?   Yes150 People Agreed

Read more Current Affairs on: Union Government, RBI, Plastic Notes

By:nikki | On:14-MAR-2013 03:09:33


What reasons behind choosing such five cities for plastic note issuance?


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