Government approves introduction of one billion polymer banknotes of ₹10 and ₹20
The Union government has approved the introduction of one billion polymer banknotes in the denominations of ₹10 and ₹20. The RBI has informed that the procurement process for these notes is presently at an initial stage. The approval covers the two lowest-value currency denominations, signalling a move towards polymer-based banknotes in India's currency system.
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Changes in currency form and the notes' denominations and issuing authority (RBI) are frequently examinable.
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- One billion polymer banknotes of ₹10 and ₹20 approved.
- RBI's procurement process is at an initial stage.
- Only the ₹10 and ₹20 denominations are covered.
Background
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