RBI to Introduce Varnished ₹100 Currency Notes

On Thursday, RBI in its annual report for 2018-2019 is planning to introduce, varnished ₹100 banknotes in a trial phase to test it for durability. The Central bank has incurred a total expenditure of ₹4,811 on security printing during the year July 1, 2018, to June 30, 2019.

The bank is looking into solutions that would increase the durability of the banknotes. Varnished notes are a success internationally and used in several countries. It is expected to reduce banknote replacement, last longer, and lower overall security printing expenditure.

The ₹10 and ₹100 banknotes constituted 47.2% of the total banknotes in circulation.

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