RBI Decides to Circulate 'Plastic Notes'

- On July 1,2010 Reserve Bank of India has decided to circulate 'Plastic Currency Notes' in the market by the end of 2010.
- In its revealed decision, Reserve Bank of India decided to introduce and circulate Rs. 10 plastic note in the market and later on currency notes of Rs. 20, 50 and 100 will be made circulated in the market.
- RBI also decided to print these plastic notes in India itself.
- Taking a note of maximum transaction and circulation of Rs. 10 note, RBI decided to print no plastic note at the beginning of new plastic note currency.
- It is worthnoting that Australia is the first country in the world where plastic notes were put in circulation.
- On the lines of Australia's experience, RBI also decided to adopt and launch plastic note series on experimental basis.