Plastic Notes of ₹10 and ₹20 Coming Soon: Government Approves RBI's Polymer Currency Proposal

The path is clear for polymer or plastic currency notes in India as the central government has approved the Reserve Bank of India's (RBI) proposal, starting with a field trial of ₹10 and ₹20 denomination notes.

Key Highlights:
- Field Trial Plans: The government shared in Parliament that 100 crore (1 billion) polymer notes each of ₹10 and ₹20 will be issued for field trials to test durability and acceptance.
- Paper Notes to Remain: Existing paper currency will not be discontinued or affected; paper notes will remain in circulation alongside the new polymer notes.
- Durability & Global Precedent: Polymer notes offer longer lifespans, better resistance to wear and tear, and enhanced security features against counterfeiting. Australia first introduced plastic notes in 1988, and over 50 countries currently use them.