RBI Introduces Plastic Currency Notes

The Reserve Bank of India (RBI) will introduce long lasting polymer (plastic) currency notes from April 2027, the beginning of the next financial year. RBI Governor Sanjay Malhotra announced that Rs 10 and Rs 20 plastic notes will be launched as part of a pilot project after the Monetary Policy Committee review meeting.

Based on the results of the pilot project, the RBI will decide whether to introduce polymer notes in other denominations. The Governor clarified that there is no proposal to completely replace existing paper currency with plastic notes, and both types of notes will remain valid. The central government has approved the printing of 200 crore polymer notes, including 100 crore each of Rs 10 and Rs 20 denominations.