Will India get plastic currency notes? RBI reviewing proposal, says Governor
The Reserve Bank of India (RBI) Governor Sanjay Malhotra has said that the proposal to introduce polymer currency notes in India is currently under consideration and remains at a preliminary stage, reported the PTI. Speaking on the issue, Malhotra said the central bank is examining the proposal, but no final decision has been taken so far. The RBI Governor stated that discussions regarding polymer banknotes are still in the early stages. He said the proposal is being evaluated and remains under consideration by the central bank. His remarks come amid growing interest in the possibility of introducing polymer-based currency notes as an alternative to traditional paper notes. What are polymer currency notes? Polymer notes are banknotes made from a special plastic material rather than cotton-based paper. Several countries, including Australia, Canada, the United Kingdom and New Zealand, have adopted polymer currency due to its durability and security features. These notes are generally more resistant to wear and tear, water damage and counterfeiting. Potential benefits It is believed that polymer notes can last significantly longer than …
