The trend of digital payments has certainly increased, yet a large number of people still prefer to carry cash. You may have 10, 20, 100 or 500 notes, but their appearance is going to change soon. Preparations are underway to introduce plastic notes in India and the Reserve Bank of India (RBI) has taken an important step in this direction.
**Process to acquire polymer sheet started**
RBI’s banknote printing subsidiary, BRBNMPL (Reserve Bank of India Note Printing Private Limited), has started the process of procuring polymer sheets used in making plastic notes. The company has invited ‘Expression of Interest’ (EOI) from global companies to take this project forward.
**About BRBNMPL**
BRBNMPL is a subsidiary of RBI which prints currency notes in the country. It handles many important tasks related to the production of banknotes. The issuance of EOI for polymer sheets shows that preparations for plastic notes are going on at a rapid pace, indicating a major change in the appearance of currency notes in the near future.
**Benefits of plastic notes**
If plastic notes eventually replace regular paper notes, people might consider their benefits:
* A major advantage is that these notes can be more durable than paper notes.
* Paper notes often get torn or broken, whereas plastic notes do not deteriorate quickly and do not tear easily.
* Paper notes get damaged when they come in contact with water or rain, whereas plastic notes do not get damaged easily by water and moisture.