Insurance Expert » Introduce Polymer Bank Notes http://ic-test.com Always Things Future - Seabloggers INC Sat, 04 Sep 2010 05:12:51 +0000 http://wordpress.org/?v=2.8.6 en hourly 1 Reserve Bank To Introduce Polymer Bank Notes http://ic-test.com/2009/11/24/reserve-bank-to-introduce-polymer-bank-notes/ http://ic-test.com/2009/11/24/reserve-bank-to-introduce-polymer-bank-notes/#comments Tue, 24 Nov 2009 15:11:09 +0000 admin http://ic-test.com/?p=65 Reserve Bank has plans for rolling out crore polymer notes of Rs.10 denomination on a trial basis very soon. This decision has been adopted by India’s apex bank to put a check on counterfeit currency notes and for the longer existence of the currency notes.

“To increase the life of bank notes, the government has decided to introduce one billion (100 crore) pieces of polymer bank notes in Rs.10 denomination on trial basis”, said Minister of State for Finance Namo Narain Meena in Lok Sabha.

“Polymer notes are being introduced where the incidence of counterfeiting is negligible”, Meena added.

H also mentioned that the procurement process of polymer notes has started. The finance ministry has mentioned that higher denomination polymer notes would be rolled out later, provided the trial is successful.

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