RBI to trial polymer Rs 10 and Rs 20 notes alongside existing paper currency

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India is set to introduce polymer banknotes in an initial field trial overseen by the Reserve Bank of India. The RBI plans to issue one billion pieces each of the Rs 10 and Rs 20 denominations in the new format. The polymer notes will circulate alongside existing paper currency rather than replacing it outright. The primary aim of the initiative is to extend the lifespan of lower-denomination notes, which tend to wear out quickly. Parliament has also seen related discussions covering broader economic topics such as inflation and taxation.

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