Plastic Currency: Currently, no consideration is being given to introducing plastic currency in the country. But the government is continuously making efforts to stop counterfeiting of notes and increase their durability.
Is the government going to change the paper notes currently being circulated in the country? All these questions are being raised whether plastic currency notes will be issued in place of paper notes. Questions were asked to the government on this matter in Parliament. The answer to which was given by Minister of State for Finance Pankaj Choudhary.
Plastic notes are not coming
During Question Hour, Rajya Sabha MP Anil Desai asked the government whether the government is considering replacing the existing paper currency (Plastic Currency Notes) on the lines of plastic currency being used in other countries. Because these notes have proved to be quite durable in many countries. Not only this, it is very difficult to prepare its fake currency.
In response to this question, Minister of State for Finance Pankaj Choudhary made it clear that at present no consideration is being given to introducing plastic currency in the country. But the government is continuously making efforts to stop counterfeiting of notes and increase their durability.
The plan was made earlier
According to the annual report of 2015-16, RBI had planned to issue plastic notes of Rs 10. For which five cities were selected. Where these notes will be circulated on pilot basis. The names of Kochi, Shimla, Jaipur, Bhubaneswar and Mysore were mentioned in these cities.
Later this plan was cancelled. The reason given is that the risk of plastic notes catching fire may increase in high temperatures. Due to which this project of RBI was stopped. After which no such announcement has been made. Nor has the government said anything regarding plastic notes.