RBI introducing plastic notes of rs 10 of Rs 100crores is it convinient for people?

IT would be good, For the very first time, Australia started using plastic notes.Common people will get irritated by old notes, dirty notes and damaged (worn out) currency notes.So people are ready to welcome plastic notes.

Let us have a look at advantages of using plastic notes :

1. The plastic bank notes would last longer by 4 years compared to one year for normal currency notes in addition to also being harder to counterfeit.


2. It will remain clean compared to normal notes.


3. People will go to banks to exchange old notes, dirty notes and damaged (worn out) currency notes. Banks have to utilize machines and manpower to handle these notes. Banks are using machines to separate good notes and damaged notes. These all are expensive and also waste of time for people as well as for banks. So if RBI introduces plastic notes, all these burdens will be reduced.


4. The technology in printing plastic notes involves highly sophisticated processes. So it would be highly difficult to manufacture duplicate notes. Thus distribution of fake and duplicate currency notes can be controlled.


5. They are considered as Eco friendly.


6. Sometimes people write unnecessary things or slogans on notes. Currency notes lose their beauty if we write anything on them. Now we should not worry about this because we cannot write anything on plastic notes.

If RBI comes with plastic notes concept. it does not mean it is going to give us buiscuits of plastic mentioned rs. 10/- . it means the compostition will be more of plastic, to make the storage better and withering off minimum.

I think it should have been done long back.