RBI to Launch Polymer Currency Notes in Rs 10 and Rs 20 Denominations
The Reserve Bank of India has been authorised by the government to print up to 2 billion polymer, or plastic, currency notes for field trials. The trial will cover two denominations — Rs 10 and Rs 20 — with 1 billion notes each. Polymer notes are made of plastic and are considered more durable than traditional paper currency. The RBI governor has indicated the rollout is expected within the coming year. Authorities have clarified that there is currently no plan to fully replace paper currency with polymer notes.
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