RBI targets polymer currency-note launch by FY28, starting with ₹10 and ₹20 pilot
The Reserve Bank of India is preparing a pilot for polymer banknotes, likely in ₹10 and ₹20 denominations, with a broader rollout targeted from FY28. Paper and polymer notes are expected to coexist as the central bank tests the new substrate.
RBI plans to test and launch polymer currency notes by FY28, beginning with a likely Rs 10 and Rs 20 pilot. Paper and polymer notes will coexist, with substrate suppliers invited through an August 18 tender.
Why this matters
The polymer-note plan follows RBI's stated April 2027 pilot timetable, alongside recent moves to hold the repo rate at 5.25% and propose harmonised loan-rate rules for borrower transparency.
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