Plastic Banknotes

The government has approved the introduction of one billion polymer banknotes of Rs 10 and Rs 20 for field trials, Parliament was informed on Tuesday. The Reserve Bank of India (RBI), with the recommendation of its central board, had sent a proposal to the government in terms of Section 25 of the Reserve Bank of India Act, 1934, for introduction of one billion pieces each of Rs 10 and Rs 20 polymer banknotes for field trials and for regular issuance of polymer banknotes in these two denominations after successful completion of field trials, Finance Minister said in a written reply to the Rajya Sabha. "The proposal has been approved by the government. As per the RBI, these polymer banknotes are proposed to be issued along with paper substrate-based banknotes," she said. The RBI has informed that the procurement process is presently at an initial stage, she said. Therefore, she said, at this point of time, it would not be possible to practicably determine the exact timeframe for ...

The central bank will issue 1 billion each of ₹10 and ₹20 polymer banknotes for field trials before taking a call on their regular issuance

The move marks India's first formal procurement step towards polymer banknotes, though the Reserve Bank of India has not announced denominations or a timeline for their introduction

RBI Governor says the central bank is assessing the merits and challenges of polymer banknotes even as cash usage and currency circulation continue to grow

From retrospective taxation and quality reforms to polymer notes, exam glitches and middle-class stress, today's opinion pages examine key policy challenges

Polymer notes are made of a thin plastic substrate that is more resistant to moisture, dirt and tearing

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