- 1 billion plastic notes will be made
- Big decision of RBI
- Approval of trial currency of Rs 10 and Rs 20
Plastic Currency Notes In India : There were many discussions that soon plastic currency will be in the market. For the past several days, meetings were going on in the RBI regarding the introduction of plastic currency in the currency of India. Some time ago there was news that polymer notes would soon be in the market, after which there was a discussion whether demonetization would happen again or not. But, later RBI approved it and made it clear that nothing like demonetisation will happen. After that, the RBI proposed to the government to test plastic notes, which has now been approved by the government. The plastic notes that everyone has been waiting for will soon be in your hands.
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Plastic notes will be tested
In fact, the government has recently approved the testing of plastic notes of Rs 10 and Rs 20 before they are introduced in the market. Under this, 100-100 crore polymer notes of both the notes will be produced. On Tuesday, Finance Minister Nirmala Sitharaman has given a written reply to this in the Rajya Sabha. In which he has given complete information regarding all this.
What exactly did the finance minister say?
In his written reply, the Finance Minister clarified that the government has approved the proposal. According to RBI, these polymer notes will be issued alongside the paper notes already in circulation. He also said that the RBI has said that the process of procuring these polymer notes is still in the preliminary stage. Therefore, it is not currently possible to predict when polymer notes will be available in the market or how much they will cost to produce or procure.
First a limited amount of testing
It may be noted that a few days ago the Reserve Bank of India (RBI) forwarded this proposal to the government on the recommendation of its central board. The proposal stated that these notes would be tested in limited quantities first. If the test is successful, polymer notes of Rs 10 and Rs 20 could be issued regularly in future.
Now, with the approval of the government, these notes are expected to be available in the market soon. However, it is also clear that paper notes will continue to circulate as is; For now, there will be no change in them, nor will they be discontinued.
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