Rs. 10 plastic bank notes in India soon - Chidambaram

Indian Govt. has decided to bring Rs. 100 crore worth of plastic notes soon as per report to curb fake currency problem from across the border. Finance minister P Chidambaram said on Thursday. "Fake currency is a problem...This is a problem that arises from across the border," he said during Question Hour in Rajya Sabha. Without naming any country, he said it is not possible to check supply of fake notes at the source itself as "there is a state support".
Chidambaram informed the House that with a view to increasing the life of bank notes, particularly in lower dominations, the RBI in consultation with government has been considering various options including printing of polymer bank notes. He said a decision had accordingly been taken to introduce one billion pieces of Rs. 10 bank notes on polymer in a field trial basis in five cities. "The primary objective of introduction of polymer/plastic notes is to increase its life and not to combat counterfeiting," the minister said.
What are plastic / polymer notes: Plastic bank notes or polymer bank notes are made from a plastic polymer. They aim to incorporate a lot more convenience, durability and enhanced security features as compared to paper bank notes. If these polymer bank notes are implemented in the Indian system, India will be following the footsteps of Australia, New Zealand and a few other countries on the world in terms of currency notes. At the moment, a total of 7 countries have polymer bank notes in circulation.