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India May Soon Have Plastic Currency Notes; Will Paper Money Still Work And For How Long?
['Ayushi Bisht', 'Post Published']
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India May Soon Have Plastic Currency Notes; Will Paper Money Still Work And For How Long?
India could soon introduce polymer, or plastic, currency notes (Img: X)New Delhi: India could soon introduce polymer, or plastic, currency notes as the Reserve Bank of India (RBI) prepares to conduct field trials of the new banknotes.
Unlike traditional paper notes, polymer banknotes are made from a durable plastic film.
Today, around 60 countries, including the UK, Canada, Singapore, Malaysia and New Zealand, use polymer currency in at least some denominations.
If the trials are successful, India will join the growing list of nations using more durable and secure plastic banknotes while continuing to circulate existing paper currency.