RBI has been authorized by Government of India (GOI) to conduct field trials of plastic notes of Rs 10 in five cities across the country.
The cities selected at the time of approval were Kochi, Mysore, Jaipur, Shimla and Bhubaneswar but the final decision on the locations is yet to come. The main purpose of introducing plastic note is to extend the life cycle of banknotes. Moreover, Plastic notes are cleaner than paper currency, will last longer and are difficult to counterfeit.
Takeaways from above news:
- Headquarter of RBI is in Mumbai
- Governor of RBI is Urjit Patel
- Rs 10 note introduced by the Reserve Bank of India as a part of the Mahatma Gandhi Series in, 1996.
- RBI was established in 1935
Source- The Hindu