The government has approved the Reserve Bank of India (RBI) to print polymer (plastic) banknotes in the Rs 10 and Rs 20 denominations, according to multiple reports. The approvals cover both field trials and regular issuance, with the RBI sourcing materials for the new notes. One outlet reports that the total number approved is up to about two billion polymer notes, while another specifies that the Finance Ministry clears a pilot involving one billion notes of Rs 10 and Rs 20 to test performance before any broader rollout. The reports also state that paper and polymer currency are planned to coexist in circulation, rather than replacing paper notes immediately. The initiative is described as part of efforts to improve the durability and lifespan of banknotes in day-to-day use. Additional coverage notes that RBI is assessing the broader implications of the change, including potential effects on digital payment systems, and that any wider rollout would depend on the outcomes of the trial phase. Overall, the sources describe a phased introduction beginning with testing, followed by continued issuance contingent on results.
Government clears RBI trial and issuance of Rs 10 and Rs 20 polymer notes
The government has approved the Reserve Bank of India (RBI) to print polymer (plastic) banknotes in the Rs 10 and Rs 20 denominations, according to multiple reports. The approvals cover both field tri...
- The Finance Ministry clears an RBI proposal for polymer (plastic) banknotes in the Rs 10 and Rs 20 denominations.
- The plan includes field trials, with wider rollout dependent on trial outcomes.
- The government approval allows printing in stages, with totals reported as about 1–2 billion notes depending on the source.
- Paper and polymer notes are expected to coexist in circulation.
- The move is intended to improve banknote durability and lifespan, while RBI assesses related impacts.
The government has allowed the Reserve Bank of India to print two billion polymer notes. These new polymer notes will be printed for field trials and regular issuance. The minister stated that paper and polymer currency will coexist in circulation. RBI is currently sourcing materials for these polymer banknotes. This initiative aims to enhance the lifespan of currency in circulation.
1 hour agoThe initiative, aimed at enhancing the durability of banknotes, follows global trends and is currently in its preliminary phase, with the RBI studying its impact on digital payment systems.
12 hours agoThe initiative, aimed at enhancing the durability of banknotes, follows global trends and is currently in its preliminary phase, with the RBI studying its impact on digital payment systems.
13 hours agoFinance Ministry approves RBI's proposal to issue one billion Rs 10 and Rs 20 polymer notes for field trials, with wider rollout contingent on the outcome.
14 hours agoFinance Ministry approves RBI's proposal to issue one billion Rs 10 and Rs 20 polymer notes for field trials, with wider rollout contingent on the outcome.
15 hours ago
Trump says Israel would not survive without US ahead of Netanyahu meeting
US President Donald Trump says Israel “would not survive” without US support, making the remarks ahead of a meeting with...
Roof-mounted camera footage shows wildfire spread in Spain
Multiple outlets report that roof-mounted camera footage captures the rapid spread of wildfires in Spain. The video, fil...
Shots fired outside U.S. consulate in Toronto for second time this year
Early Monday, shots were fired outside the U.S. consulate in downtown Toronto, marking the second such incident at the b...