The Indian government approved the Reserve Bank of India (RBI) to roll out 1 billion polymer notes each of ₹10 and ₹20 denominations for field trials — the most concrete step yet in India's move toward polymer currency. Polymer banknotes (made from biaxially oriented polypropylene) last 2-3 times longer than cotton-paper notes, are water-resistant, harder to counterfeit, and more environmentally friendly. Australia was the first country to adopt polymer currency in 1988. Over 60 countries now use polymer notes. Earlier in July 2026, RBI had launched global bids for polymer substrate sheets.
Economy
Government Approves RBI to Issue 1 Billion Each of ₹10 and ₹20 Polymer Banknotes for Field Trials
Key Points
- The Indian government approved the Reserve Bank of India (RBI) to roll out 1 billion polymer notes each of ₹10 and ₹20 denominations for field trials — the most concrete step yet in India's move toward polymer currency
- Polymer banknotes (made from biaxially oriented polypropylene) last 2-3 times longer than cotton-paper notes, are water-resistant, harder to counterfeit, and more environmentally friendly
- Australia was the first country to adopt polymer currency in 1988
- Over 60 countries now use polymer notes
- Earlier in July 2026, RBI had launched global bids for polymer substrate sheets
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• RBI polymer banknotes: Government approves 1 billion ₹10 + 1 billion ₹20 for field trials (July 28, 2026) • Polymer notes: biaxially oriented polypropylene; 2-3× longer lifespan; water-resistant; harder to counterfeit • Australia: first polymer currency country (1988); 60+ countries use polymer notes • Earlier (July 22): RBI launched global bids for polymer substrate sheets; RBI Governor: Sanjay Malhotra
