The conversation between human and AI assistant.
Why didn’t RBI introduce the plastic currency in India with the new 500 and 2000 notes?
Can you tell me why didn’t RBI introduce the plastic currency in India with the new 500 and 2000 notes?
According to RBI, while plastic notes have a longer life, they are not environmentally friendly and are difficult to dispose of. Also, it requires a huge investment to shift to plastic currency. Therefore, the RBI decided to continue with paper currency for the time being.