Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

1 Billion Plastic Currency Notes of Rs10 denomination to be Introduced

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Mr Shri Jayant Sinha(Finance Minister) in written reply to a question in Lok Sabha today posted that Government will introduce 1 Billion Plastic currency notes of Rs10 denomination on trial basis in cities (Kochi, Mysore, Jaipur, Shimla and Bhubaneswar). The whole idea is to increase the lifetime of the Currency notes. Once the field trial is successful RBI might replace the old paper currency notes with Plastic Currency.


Plastic Currency Notes

 
Earlier in May 2014 Raghuram Rajan, the Governor of the Reserve Bank of India (RBI) announced that plastic currency notes will be launched in 2015 after field trials.

Countries like Australia,Brunei, New Zealand, Papua New Guinea, Romania, Vietnam, Fiji, Mauritius (printed by De La Rue), Canada and Israel had already shifted to Paper currency notes. Australians are the first to adapt Paper Currency notes in 1988 and completely shifted to 1996

Introduction of Paper currency notes not only helps in increasing the lifetime of the currency notes but also helps in stop counterfeiting of Indian rupees. Also, Plastic currency notes with an average life span of about five years are cleaner than paper notes. What do you say? which one you will prefer, Paper Currency or Plastic Currency?

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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One Reply to “1 Billion Plastic Currency Notes of Rs10 denomination to…”

  1. Dear sir, kindly chart the latest f&o stocks, like mindtree, sks micro finance, motherson sumy, wockhardt, etc, in your market calls.in. I hope you will not disappoint me

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