RBI Moves Toward Polymer Currency Notes to Cut Soiled Note Waste

The Reserve Bank of India is preparing to introduce plastic polymer banknotes, with its currency printing arm Bharatiya Reserve Bank Note Mudran Pvt Ltd already inviting global expressions of interest for sourcing raw materials. The move marks a significant shift in India's currency management strategy. The initiative gains importance given that India has disposed of approximately Rs 50 trillion worth of soiled notes over the past decade. Polymer notes are generally more durable than paper currency, which could substantially reduce the volume of notes becoming unfit for circulation.