The Modi Government informed the Parliament that a decision has been made to print plastic currency notes. Minister of State for Finance, Arjun Ram Meghwal, in a written reply to a query whether RBI proposes to print plastic currency notes, said, "It has been decided to print banknotes based on plastic or polymer substrate. The process of procurement has been initiated."
The main bank has been planning to launch plastic currency note after field trials, since long. In February 2014, the government had informed the Parliament that one billion plastic notes of Rs 10 denomination would be introduced in a field trial in five cities selected for their geographical and climatic diversity. Plastic notes have an average life span of about five years and are difficult to imitate, not to mention cleaner than paper ones.
