India prepares to roll out plastic banknotes

April 03, 2013 22:21

The Reserve Bank of India is getting ready to circulate 1 billion plastic, or polymer, bank notes of the 10 rupee denomination, which equals around 14 euro cents, across five Indian cities.

Kochi, Mysore, Jaipur, Bhubaneshwar and Shimla have been chosen for their vast geographical differences and to test the effects their varying climates may have on the plastic notes.

The switch to plastic banknotes, Alpana Killawala, spokesperson at the Reserve Bank of India said, is not only aimed at increasing the longevity of the notes but also a move to tackle people attempting to counterfeit the currency.

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