New Delhi: The government will introduce 100 crore pieces of Rs 10 bank notes made of plastic on a field trial basis in five cities, minister of state for finance said on Tuesday.
"It has been decided by the government and the RBI (Reserve Bank of India) to introduce one billion pieces of Rs 10 notes in polymer/plastic on a field trial basis," minister of state for finance Namo Narain Meena said in a written reply to the Rajya Sabha.
The minister said that the field trail will be conducted in five cities - Kochi, Mysore, Jaipur, Bhubhaneswar and Shimla with varied geographical locations and climactic conditions. "The RBI has informed that while the primary objective of introduction of polymer notes is to increase its life, it could also help in combating counterfeiting," he added.
He also said various agencies such as the RBI, the finance ministry, home ministry, security and intelligence agencies are working to thwart the illegal activities related to fake Indian currency notes.
He also said that the work of these agencies is periodically reviewed by a nodal group set up for this purpose. "Further, a special FICN Coordination group gas been formed in the home ministry to share the intelligence or information among different security agencies of state or Centre to counter this menace."