Soon you will see Plastic currency notes in India

Everyone is familiar with word plastic card but now it is plastic currency notes. Yes Reserve Bank of India is planning to introduce polymer, or plastic, currency notes in the country.

From sometime the RBI has been working on the idea of replacing paper currency with polymer notes as the paper notes wear out very quickly due to mishandling and it is not possible for the central bank to print the currency very frequently especially because of security reasons.

In the beginning, the central bank informed has decided to introduce 100 crore (1 billion) pieces of Rs 10 polymer notes, and for this the bank has floated a global tender.

The interested parties have been asked to send 500 pieces of sample banknotes, before the apex bank actually floats the global bids for the main project.