New Delhi: Plastic currency notes will soon become a reality in India. The Parliament was informed on Friday that procurement process for required material has already begun.
"It has been decided to print bank notes based on plastic/polymer substrate. The process of procurement has been initiated," Minister of State for Finance Arjun Ram Meghwal said in a written reply in the Lok Sabha.
Meghwal said that on December 11, 2015 it was informed by the Reserve Bank of India that they received some Rs 1,000 denomination without the security thread.
These notes were printed at the Currency Note Press at Nashik in Maharashtra on paper supplied by Security Paper Mill (SPM), Hoshangabad, the minister said.
With IANS Inputs