Govt okays RBI trials for plastic Rs 10 notes in five cities

The Reserve Bank of India (RBI) will conduct five-city trials of a new polymer-based Rs 10 banknote, the government said in Parliament on Friday, declaring a move to plastic money to fight counterfeiting and reduce wear and tear.

Plastic notes were first adopted by Australia in 1988 and are now used in more than 20 countries. These are smaller and stronger than cotton-based paper notes, with more security features that make them harder to counterfeit.

“Approval for procurement of plastic substrate and printing of banknotes of Rs 10 denomination has been conveyed to the RBI,” junior finance minister Arjun Ram Meghwal said in the Lok Sabha.

The government had informed Parliament before that a billion 10-rupee plastic notes would be introduced for field trials in five cities — Kochi, Mysore, Jaipur, Shimla and Bhubaneswar — selected for their geographical and climatic diversity.

29 lakh debit cards subjected to malware attack: Govt to write off tax dues up to Rs 100; 21.54 lakh to benefit
Meghwal said the government is sticking to its plan.

The move follows the scrapping of 500- and 1,000-rupee notes last November, wiping out 86% the money in circulation to crush counterfeiting and an illicit, parallel cash-driven economy.

A government source said Rs 10 paper notes might not be scrapped. “There is no logic to demonetise Rs 10 notes. Instead, the new plastic notes could be circulated along with the paper bills.”

Also, the government has fixed responsibility on banks to prevent cases of fake, toy notes being pumped out of their ATMs.

“The responsibility of ensuring the quality and genuineness of cash loaded at ATMs is that of the sponsor bank,” said Santosh Kumar Gangwar, another junior finance minister.

Many people have lost money when ATMs in New Delhi and its satellite cities dispensed over the past three months imitation notes bearing Children Bank of India or Manoranjan Bank of India tags.

source-:http://www.hindustantimes.com/business-news/rbi-to-conduct-trials-for-introducing-plastic-notes-govt/story-r05YHwEpZBk8HQTjKTqndP.html

469 comments

[b][url=http://www.bestwatchreplica.me/es/]mejores réplicas de relojes suizos[/url][/b]
[b][url=http://www.bestwatchreplica.me/es/]mejor réplica de relojes[/url][/b]
[b][url=http://www.bestwatchreplica.me/es/]movimiento de réplicas de relojes mecánicos suizos[/url

350312 566638Hello DropshipDragon provides dropping for quality, affordable products direct from China to your customers. Perfect for eBay sellers and internet site owners alike! 449183

Viagra Ou Cialis Ordonnance Zithromax For Treatment Of Chlamydia Canadian Pharm Meds [url=http://tadalafonline.com]cialis 20mg price at walmart[/url] Cialis 5mg Wirkstoff Order Viagra In Canada Best Prices

326733 327030I truly got into this write-up. I identified it to be interesting and loaded with distinctive points of interest. I like to read material that makes me believe. Thank you for writing this excellent content material. 410719

I do not know whether it’s just me or if everybody else encountering issues with your
site. It looks like some of the text on your posts are running off
the screen. Can somebody else please provide feedback and let
me know if this is happening to them as well? This may be a problem with my browser because I’ve had this happen before.
Many thanks

I got this web site from my pal who shared with me regarding
this web site and now this time I am visiting this web
site and reading very informative posts at this place.

Just wish to say your article is as astonishing.
The clarity for your put up is simply great and that i can assume you are
knowledgeable on this subject. Well together with your permission let
me to clutch your RSS feed to keep up to date with imminent post.

Thank you one million and please keep up the enjoyable work.

I like the helpful info you supply on your articles. I’ll bookmark
your blog and take a look at once more right here frequently.
I’m reasonably sure I will be told lots of new stuff right right here!
Best of luck for the next!

Having read this I thought it was extremely informative.
I appreciate you spending some time and energy to put
this informative article together. I once again find myself
personally spending a significant amount of time both reading and commenting.
But so what, it was still worthwhile!

Attractive section of content. I just stumbled
upon your web site and in accession capital to
assert that I get in fact enjoyed account your blog posts.
Any way I will be subscribing to your augment and even I achievement you access consistently quickly.

I have been surfing on-line greater than 3 hours lately, but I by no
means found any fascinating article like yours.
It is lovely price sufficient for me. In my opinion, if all website owners and bloggers made just right
content material as you did, the net will likely be much
more helpful than ever before.

Thank you for every other informative blog.
The place else may just I get that kind of info written in such an ideal means?

I’ve a venture that I’m just now running on, and I’ve been on the look out for such info.

likely penalty viagra pills seriously story rather spite generic viagra sales finally respond hard rain generic viagra sales straight broad [url=http://viacheapusa.com/#]viagra[/url] originally desk generic viagra sales already past http://viacheapusa.com/

Its such as you learn my mind! You seem to grasp a lot approximately this, such as you wrote the guide in it or something.
I feel that you can do with a few % to power the message home a bit, but instead
of that, this is excellent blog. An excellent
read. I’ll definitely be back.

I am often to blogging and i really appreciate your content. The article has really peaks my interest. I am going to bookmark your site and keep checking for new information.

obviously like your web-site however you need to take a look at the spelling on quite a few of your posts. Many of them are rife with spelling issues and I to find it very bothersome to inform the truth on the other hand I’ll surely come back again.

Leave a Reply