The government has approved the introduction of one billion polymer banknotes in denominations of ₹10 and ₹20, according to reporting from Business Line and The Hindu.
Both outlets cite the Finance Minister, who says the procurement of the polymer banknotes is at an early stage. The Hindu adds that the Reserve Bank of India (RBI) informs the government that the procurement process is still at an initial stage. Business Line similarly characterizes procurement as early, without adding further procurement milestones.
The articles focus on the approval itself and the current status of sourcing and production rather than on implementation timelines. Neither report provides details on when the new notes will enter circulation, the contract award status, or whether older banknotes will be withdrawn as the polymer notes are introduced. Overall, the shared emphasis across outlets is that approval has been granted and procurement activities have begun but remain preliminary, as described by the RBI.
