Do you know how much plastic notes cost?
The Reserve Bank of India (RBI) is planning to introduce plastic/polymer notes to address the problem of low-value notes getting damaged quickly. The RBI, which currently spends thousands of crores annually on reprinting cotton notes, estimates that plastic notes will last for 5-7 years, thereby saving about Rs 6,000 crore annually. As part of this pilot project, low-value notes of Rs 10 and Rs 20 are likely to be introduced in plastic first.
