The Union government has granted the Reserve Bank of India approval to issue 1 billion pieces each of ₹10 and ₹20 polymer banknotes as part of a pilot project.
The trial, valued at approximately ₹3,000 crore, aims to test the durability and security features of plastic currency, though officials clarified there is no plan to replace paper notes entirely.
Polymer notes are expected to last significantly longer than traditional cotton-based paper currency, potentially reducing long-term printing costs for the central bank.