| Consider the following statements: |
| 1. In India, the RBI is planning to introduce one billion pieces of Rs.10 notes in polymer or plastic on a trial basis in Kochi, Mysore, Jaipur, Bhubaneswar and Shimla. |
| 2. Polymer notes would be suitable for, 'tropical and sub-tropical conditions' and the lifeline could be more than four times longer than their paper equivalent for even lower denomination notes which are used more frequently. |
| 3. Pioneered by Australia, the plastic currency notes are already in use across a number of other countries, including Singapore, Canada, New Zealand, Malaysia, Vietnam, Fiji, Brunei, Papua New Guinea and Romania. Select the correct answer using the codes given below: |
A) Only 3
B) 1 and 2
C) 2 and 3
D) All the above
Correct Answer: D
Solution :
[d] Polymer banknotes are banknotes made from a polymer such as biaxially oriented polypropylene (BOPP). Such notes incorporate many security features not available to paper banknotes, including the use of metameric inks; they also last significantly longer than paper notes, resulting in a decrease in environmental impact and a reduction of production and replacement costs. Modem polymer banknotes were first developed by the Reserve Bank of Australia (RBA), CSIRO and The University of Melbourne. They were first issued as currency in Australia in 1988 (coinciding with that country's bicentennial year). In 1996 Australia switched completely to polymer banknotes Countries that have since switched completely to polymer banknotes include Brunei, New Zealand, Papua New Guinea, Romania, Vietnam, Fiji, Mauritius (printed by De La-Rue), Canada and Israel.
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