New Delhi: Not to combat counterfeiting of currency but primarily to increase the life of notes, Reserve Bank of India has decided to introduce polymer currency in Shimla, Kochi, Mysore, Jaipur and Bhubaneshwar on a trial basis.
Jayant Sinha, minister of state for finance, in a written reply informed the Lok Sabha that the government has decided to introduce one billion plastic notes of Rs 10/- denomination in a field trial spread over five cities selected for their geographical and climatic diversity.
The primary objective of introduction of polymer/plastic notes is to increase its life and not to combat counterfeiting. The cities selected for field train are Shimla, Kochi, Mysore, Jaipur and Bhubaneswar, said Sinha.
The Reserve Bank of India has informed that since the proposal is at a trial stage, the decision on replacement of currency notes with plastic notes will depend on the outcome of field trial, added the minister.