RBI (Reserve Bank of India) the apex banking institution of India has decided to introduce100 crore pieces of polymer 10 rupee notes. The bank notes are made from the polymer Bi axially Oriented Polypropylene(BOPP) which greatly enhances durability of the bank notes. Polymer bank notes also incorporate many security features which are not available to paper bank notes, making counterfeiting much more difficult. And so, imitations of Indian Rupee can be widely reduced.
According to the Senior officials from RBI, the life time of plastic(polymer) bank notes have life time 5 times than that of paper bank notes. RBI has called a global tender to produce the polymer bank notes.
This technology was first introduced in Australia in 1988. The nations New Zealand, Papua New Guinea, Romania, Bermuda, Brunei and Vietnam also now using this technology.