Not only to counter fake currency, but also to increase the life of currency notes RBI is planning to introduce plastic notes.

In a meeting on April 17, 2013 RBI Deputy Governor Mr. K.C.Chakrabarty said that as of now Rs. 10 note will be introduced soon in plastic on trial basis and only in select cities.

Banks did a lot of efforts to increase the life of notes like banning staple the notes packet and writing on the notes. But people as well as bank officials do not follow of not writing on the notes which decreases the life of notes. Deputy Governor said that the average life of a note in India is less than 9 months.

Also replying to some queries of the public, he said that RBI is doing its best to let the public about checking the genuineness of the currency. When asked ATMs also withdraw fake notes? He said there should be a mechanism for customers to check the genuineness money withdrawn from ATMs.

RBI will introduce plastic notes soon

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