Now Reading: Govt approves field trials of Rs 10, Rs 20 polymer notes
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Govt approves field trials of Rs 10, Rs 20 polymer notes
Finance Minister Nirmala Sitharaman told Parliament on Tuesday that the government has approved the introduction of one billion polymer banknotes each of ₹10 and ₹20 for field trials. The Reserve Bank of…
The Story in Brief
Finance Minister Nirmala Sitharaman told Parliament on Tuesday that the government has approved the introduction of one billion polymer banknotes each of ₹10 and ₹20 for field trials. The Reserve Bank of India proposed the move after its central board recommended it, and the government cleared it under the RBI Act.
Polymer notes will be issued alongside paper currency, not replace it, said the minister. The procurement process is at an early stage. RBI has floated an expression of interest for 68,000 reams of polymer substrate. No timeline for a full launch has been announced.
The Indian Opinion
The move revives talk of plastic currency, but this is only a trial. Some may fear a backdoor demonetisation, the government has explicitly said polymer will supplement paper, not replace it. Others may fret about environmental cost; India already struggles with plastic waste. The real test is durability in tropical conditions and whether cost per note falls. Will the RBI share trial results before scaling up? That will separate hype from fact.
Source: thehindubusinessline.com
This story was synthesised by AI from the source linked above.
