India Launches Trial Run of Plastic Banknotes

Recently, in the Lok Sabha, MPs Ramprit Mandal and Krishna Devi Shivshankar Patel had asked the Finance Minister about the plastic note, along with how it would affect the digital payment system. They also asked whether the government would replace paper notes entirely with plastic. Replying to these questions in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said, "The Reserve Bank of India (RBI), on the recommendation of its Central Board of Directors, under Section 25 of the Reserve Bank of India Act, 1934, has approved the trial of one billion (100 crore) polymer banknotes of Rs 10 and Rs 20 denomination.