Author Topic: RBI To Introduce Polymer Banknotes  (Read 19773 times)

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Offline $$

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Re: Plastic Currency
« Reply #30 on: August 24, 2012, 06:12:57 AM »
Really good news but sad to hear that it is not being launch in metro cities

Let wait and watch.

Samir

Dear Friends

After a long wait, GOI has finally decided to launch polymer notes. Initially only Rs ten polymer notes will be issued. They will have enhanced security features. They will be launched in five cities on trial basis - Jaipur, Shimla, Bhubaneswar, Mysore & Kochin. The cities were chosen in view of varied geographical locations and climatic conditions

Regards
Sanjay Kansal
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Offline Coinsforever

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Re: RBI To Introduce Polymer Banknotes
« Reply #31 on: August 24, 2012, 09:13:14 AM »
Wow great news!! Soon we will see this item on ebay (Newly releases trial India 10 rupee polymer note..Only few printed..Grab it as soon as you can...Lowest price on ebay)  ;D ;D ;D ;D >:D >:D

But point is lot of fakes will also flood into market moreover  initially apart from common citizens collectors may be duped.  (alike Rs.10 bimetallic coins initially lot of fakes has been flooded)

Really good news but sad to hear that it is not being launch in metro cities

If RBI will print & issue these new polymer notes in larger volumes than during transactions may be passed to metro , but as it is on trial basis lets cross the fingers collectors in metro may hardly find it in their cities.

Cheers ;D
« Last Edit: August 24, 2012, 11:46:43 AM by aan09 »
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Offline dheer

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Re: RBI To Introduce Polymer Banknotes
« Reply #32 on: August 24, 2012, 12:39:14 PM »

They will be launched in five cities on trial basis - Jaipur, Shimla, Bhubaneswar, Mysore & Kochin.

Any WOC members from these cities??
Maybe they will be able to help others collect these notes ....
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Offline akhedia

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Re: RBI To Introduce Polymer Banknotes
« Reply #33 on: August 24, 2012, 02:02:23 PM »
Beekerji is from Cuttack which happens to be the twin city of Bhubaneshwar..............Beekerji if you are reading this post then we request you to please arrange a Bundle for the Forum members......... :) :) :)

Offline Bimat

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RBI To Introduce Polymer Banknotes
« Reply #34 on: August 24, 2012, 03:40:18 PM »
RBI to float global tender on polymer bank notes

Friday August 24, 2012 06:28:47 PM, IANS

Shillong: The Reserve Bank of India (RBI) would soon float global tender for introducing polymer currency notes, Deputy Governor K.C. Chakrabarty said Friday.

"We have already submitted our proposal to the Ministry Of Finance and Ministry of Home Affairs for clearance. Once it is cleared, then our next process is to float global tender for introduction of polymer bank notes," Chakrabarty told journalists after inaugurating the RBI branch office here in Meghalaya.

"Counterfeiting of plastic notes is very difficult and therefore, we are planning to launch these polymer currency notes on experimental basis at five centres based on different weather condition," he said.

Chakrabarty said field trials of Rs.10 polymer bank notes will be conducted in five cities -- Mysore, Kochi, Jaipur, Shimla and Bhubaneswar.

"Our proposal is not only aimed at checking the counterfeiting but also to cut down printing cost involved with the paper notes as they need early replacement due to soiling and mutilation," he said.

Polymer notes have relatively longer life compared to the prevailing paper bank notes and may help in checking counterfeiting.

The average life span of polymer currency notes is five years while the paper currency notes is one year.

Polymer notes were first introduced in Australia to safeguard against counterfeiting of currency.

Besides Australia, other countries which have introduced plastic notes are New Zealand, Papua New Guinea, Romania, Bermuda, Brunei and Vietnam.

Source
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Offline Bimat

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RBI To Introduce Polymer Banknotes
« Reply #35 on: August 24, 2012, 04:42:35 PM »
I'm confused. Have those polymer Rs 10 banknotes already been printed or yet to be printed? (After the said global tender etc)..if it's the latter case, then we will have to wait for few more years to actually see them. >:D

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline dheer

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Re: RBI To Introduce Polymer Banknotes
« Reply #36 on: August 24, 2012, 05:32:37 PM »
Well I think the exact introduction date and time would remain a mystery ... for so called national interest and security  >:D >:D >:D >:D

As RBI has not yet issued a press release, it would still be sometime before we see the notes ...  my guess is atleast couple of months if not more ...
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Offline Bimat

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RBI To Introduce Polymer Banknotes
« Reply #37 on: August 24, 2012, 06:34:34 PM »
My contact in RBI told me about year ago (or even before) that the polymer banknotes have already been printed and they just need government notification to start their distribution. Even many dealers were sure that they will be issued in latter half of 2011 / first half of 2012..I had even heard of their details (inset letters etc). :o however there are no such signs so far. And now reading about global tender for printing..I'm doubtful if they will come out before 2014 as tendering is quite complex process and since this issue is closely related to national security, there will be some delay..

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

paisepagal

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Re: RBI To Introduce Polymer Banknotes
« Reply #38 on: September 24, 2012, 10:44:53 AM »
I just got a polymer Rs10 note in change at my office cafeteria It just doesn't crumple up !

Offline Mackie

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Re: RBI To Introduce Polymer Banknotes
« Reply #39 on: September 24, 2012, 10:54:32 AM »
Ashwin,

Great news!! We need snaps. :)
Warm Regards,
Mackie

paisepagal

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Re: RBI To Introduce Polymer Banknotes
« Reply #40 on: September 24, 2012, 10:56:56 AM »
Ashwin,

Great news!! We need snaps. :)

It looks the same as the normal note...slightly glossly perhaps....else its only when i touched it, i realised.
So I don't think a snap helps

Offline Mackie

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Re: RBI To Introduce Polymer Banknotes
« Reply #41 on: September 24, 2012, 11:13:59 AM »
Cool..I thought there would be some change in design..never mind let me go and check in my office cafeteria. :p
Warm Regards,
Mackie

paisepagal

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Re: RBI To Introduce Polymer Banknotes
« Reply #42 on: September 24, 2012, 11:16:18 AM »
or pop on over here and check it for yourself. not so far for you  :P

Offline dheer

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Re: RBI To Introduce Polymer Banknotes
« Reply #43 on: September 24, 2012, 11:31:32 AM »
Why don't you go again to the cafeteria and have something ... its on me ... just get me the note ...  ;D ;D ;D

its surprising that dealers have not cornered it yet ... whats is denomination, inset and year?

and are you sure that its official release??? maybe some one got clever [like the Rs 10 hyderabad / rupee symbol coins]
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paisepagal

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Re: RBI To Introduce Polymer Banknotes
« Reply #44 on: September 24, 2012, 11:39:34 AM »
Why don't you go again to the cafeteria and have something ... its on me ... just get me the note ...  ;D ;D ;D

its surprising that dealers have not cornered it yet ... whats is denomination, inset and year?

and are you sure that its official release??? maybe some one got clever [like the Rs 10 hyderabad / rupee symbol coins]

Rs 10 without symbol  P 47B 842065 dated 2011 ....I don't collect notes, so I don't know if this is right....but I can certainly feel this note is different...like singaporean notes
 
« Last Edit: September 24, 2012, 11:59:31 AM by paisepagal »