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RBI cancels Plastic Note Plan

Published on April 17, 2022
Current Context: The Central Bank has decided not to go with the continuation of Plastic Note.
RBI cancels Plastic Note Plan
  • Polymer at high temperatures is reactive, thus in a tropical country like India, Provision for the Plastic note would not be a successful experiment.
  • Owing to the high volume of UPI transactions, as reported by the National Payment Corporation of India (NPCI), the relevance of having plastic currency ceases to exist.
  • The Central Bank also plans to launch the CBDC (Central Bank Digital Currency ) as announced in the Budget 2022 speech of the Honourable Finance Minister.


Q.1 What does CBDC Stand for?
a. Central Bank Digital Currency
b. Central Bank Digital Conference
c. Central Board of Direct Tax Code
d. Central Board of Data Centers

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