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The apex bank has initially decided to introduce 100 crore pieces of Rs 10 polymer notes, for which it has floated a global tender, a senior central bank official said.
Explaining the rationale for introduction of polymer notes, the official said, these notes would have an average life span of 5 years compared to one year for the currency notes.
Besides, the official said, these notes are cleaner than paper notes and it would be difficult to counterfeit the currency.
The polymer notes were first introduced in Australia to safeguard against counterfeiting of currency.
Besides Australia, other countries which have introduced plastic notes include New Zealand, Papua New Guinea, Romania, Bermuda, Brunei and Vietnam.
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The e-Currency should be encouraged and all the dealing and payment may be preferred at practical level. All the taxes and excise duty will be recovered at e-billing. This will reduce printing of polymercurrency and discourage the chance of Duplicate currency. All the bank are charging very high margin on e-payment from shopkeeper / customer 1% to 2%. Also reduce the risk of public for other social event. If this is reviewed by policy maker definitely it will effect on social system. The collection of taxes will increase in large amount, and require to reduce the taxes, help in country progress.
idea of e-currency is fine if whole of india is metropolitan cities.but thats not the case most of the population lives in village where computer and internet is still a fantasy. a large population is still below poverty line, so we can not expect them to use e-currency.
Dee : have you ever seen or used polymer currency notes.We do in Australia for more than 20 years.No cancer of any type is attributed to these polymer currency notes.Let us know if you have any proof of your statement in any country where polymer notes are used.
Reserve Bank of Australia owns the company that has the technology to print the currency notes for Australia.It also prints currencies for a few other countries.It is time RBI enters into a joint venture with RBA's currency outfit to have a brand new plant in India itself rather than float global tenders in future.India must quickly act.Why it takes years to get started on any thing in India baffles me ?RBI's governor should lift the phone and talk to his opposite number in RBA to get things moving and give relief to harassed millions using the currency notes EVERY DAY.It will be in the mutual interest of India and Australia.Australia has the technology and expertise but its plants are vastly under-utilized as currency use is declining year by year.So India can get a good deal by offering to make use of that idle capacity for mutual benefit.Just as Korea makes India's coins,Australia can make its currency notes cheaper than even India !Be practical.
This is the worst idea ever. Can you imsgine how much polymer is being used and how many health problems can emanate from it. Polymer is responsible for cancer and RRI is manufacturing cancer notes. Leave alone global warming and recycling hazards.
You shouldn't spread rumours. You have no scientific basis for this kind of blantant statement. Therefore you shouldn't make it. Make sure that your comments are based on facts. No one expects you to eat the notes, so getting cancer is out of the question (unless you make 10 Rupee-note curry!)