According to reports the apex bank of the country – Reserve bank of India has decided to launch plastic currency in 2015. On 15th may 2014, Mr. Rajan – governor of RBI reported that RBI is in full plan to come up with the new plastic currency by the next year.
In order to control the problem of counterfeiting of the currency the RBI has decided to come up with this move. The intimation of the currency is a big problem these days, and the intimate notes are much similar to the original and quiet difficult to identify. In 2013, Union Government had informed Parliament that it will introduce one billion plastic currency notes in five cities in later half of 2014 on a pilot basis. The five selected cities for pilot testing are Shimla, Kochi, Mysore, Jaipur, and Bhubaneswar.
Plastic currency is having a life span of 5 years and is much clearer than the paper notes.