RBI Floats Tender for Polymer Banknotes After Two Decades of Deliberation
The Reserve Bank of India has issued a tender to procure materials for polymer banknotes, signaling a potential shift away from traditional paper currency. This development revives a proposal that has been under consideration for nearly 20 years. Unlike conventional paper notes, polymer banknotes are made from a durable plastic film that makes them more resistant to wear and tear. As a result, they tend to last longer and need to be replaced less frequently than their paper counterparts.
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