The government has approved the introduction of one billion polymer banknotes in the ₹10 and ₹20 denominations. According to the government, the Reserve Bank of India has informed that the procurement process is presently at an initial stage. The move introduces polymer as the material for these lower-denomination banknotes.
Nabka Insight
Denominations, quantity and issuing framework of the new polymer notes are direct recall points.
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- Denominations: ₹10 and ₹20
- Quantity approved: one billion polymer banknotes
- Status: RBI procurement at an initial stage
Background
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