It refers to welcome news about new 100-rupee notes to be issued with special varnish-coating for increasing life of notes and making it difficult to write on notes or fold these. But there is still no clue of ten-rupee notes of plastic being issued as was announced long back by the then Union Minister of Finance Namo Narain Meena on 12.03.2013 in a written reply in Rajya Sabha.
Reserve Bank of India should direct its subsidiaries for simultaneous working on plastic-currency so that plastic-notes in denominations of rupees ten and twenty may be simultaneously issued with varnish-coated notes of 100-rupee notes, to make a comparison so that plastic or varnish-coated currency may be issued for notes of all denominations rather than some selected ones for ultimate decrease in cost of currency-printing because of longer life even though initial investment of printing plastic or varnish-coated currency may be somewhat higher.
Issue of plastic or varnish-coated currency will fulfill public-demand to stop minting highly unpopular coins of ten-rupees (and now twenty-rupees also as announced) when plastic or varnish-coated currency may be introduced in smaller denominations like rupees ten and twenty.
At the same time one-rupee notes re-issued after two decades of stop-printing on 06.03.2015 just for bureaucratic craze of signing these notes should be discontinued to be printing any more with existing stock sold at premium by RBI as souvenir in plastic packs rather than private currency-dealers selling these at heavy premium with people in general not even having seen these notes.
MADHU AGRAWAL