Soon you will get Plastic currency in your pocket

Plastic currency in your pocket:: After the demonetization of 500 and 1000 notes government decided to turn an Indian paper notes into plastic ones. Today Government informed Parliament that they have been taken a decision to change an Indian currency into plastic ones.

Union Minister of state in finance Arjun Ram Meghwal, member of BJP said in Lok sabha that RBI suggested changing an Indian paper currency into plastic ones to make an Indian currency more securable.

The plastic currency has many features.

  • The currency will make with plastic and polymer layering.
  • Long life span.
  • Cleaner than paper notes.
  • More soft then paper notes.
  • Security thread which is impossible to imitate.

The idea for changing the paper currency had been introduced in February 2014 when government informed parliament that they would firstly introduced one billion 10rs. Plastic banknotes into field trial cities and the name of the cities are Shimla, Mysore, Kochi, Jaipur and Bhubaneswar.

And today RBI has received the permission to print plastic notes of rs. 10.

Plastic notes
Plastic notes

Minister of state in finance Arjun Ram Meghwal also mentioned about the security threads of 1000 notes in Lok Sabha. He mentioned that RBI was found large quantity of 1000 notes without any security threads in December 2015 that were printed or maintained by SPM and CNP.

Currency Note Press
Currency Note Press

“Major penalty charge sheet has been issued to the personnel concerned. Disciplinary proceedings have been started as per departmental rules,” the minister added. [source – http://www.financialexpress.com/]

He further said that actions should be performed to avoid these kinds of mishaps in the future by strengthening the quality procedure.  For more stay tuned with us.

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