RBI Explores Polymer Banknotes to Cut Costs and Boost Durability

The Reserve Bank of India is considering switching to polymer-based banknotes as a more durable alternative to traditional paper currency. The central bank has invited manufacturers to submit bids for the specialized plastic substrate materials required for production. Polymer notes are known to better withstand moisture and dirt, giving them a longer lifespan than paper notes. The initiative is expected to reduce expenses related to currency replacement and printing. The new notes would also feature advanced security elements to deter counterfeiting.