Approval given to RBI to print Rs 10 plastic notes: Govt

New Delhi: The federal government in the present day stated the RBI has been authorised to conduct area trials of plastic notes of Rs 10 which have an extended life span. In a written reply within the Lok Sabha, Minister of State for Finance Arjun Ram Meghwal stated "it has been decided" to conduct a area trial with plastic banknotes at 5 areas of the nation.

"Approval for procurement of plastic substrate and printing of bank notes of Rs 10 denomination on plastic banknote substrates has been conveyed to the RBI," the minister stated.

He additional stated plastic notes are anticipated to last more than cotton substrate primarily based banknotes. Over time, central banks the world over have been exploring completely different options like plastic notes and different developments in banknote substrates for extending the life cycle of banknotes.

The minister additionally stated an inter-disciplinary Standing Committee on Cyber Safety has been constituted to assessment the threats inherent within the current and rising know-how and recommend acceptable coverage interventions to strengthen cyber safety and resilience.