Government approves one billion polymer banknotes of ₹10 and ₹20
The government approved the introduction of one billion polymer banknotes in ₹10 and ₹20 denominations. The RBI informed that the procurement process is currently at an initial stage. Polymer notes are more durable and harder to counterfeit than paper currency, marking a shift in the banknote material used for India's lower denominations.
Nabka Insight
A change in India's currency material and denomination mix — a likely banking/economy question.
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- One billion polymer banknotes approved, in ₹10 and ₹20 denominations.
- The RBI said the procurement process is at an initial stage.
Background
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