RBI to start plastic money project on trial basis
Deputy Governor, RBI, K. C. Chakrabarty held that the RBI is probable to commence the introduction of plastic notes in select parts of India on a trial basis and it would commence with the introduction of Rs.10 denomination and continue with other small denominations.
- Plastic notes can withstand more wear-and-tear than their paper counterparts
- Have a longer life than paper counterparts
- Plastic notes are more difficult to fake and could therefore be a means of countering counterfeiting.