RBI Governor Sanjay Malhotra announced that the Reserve Bank plans to introduce polymer (plastic) currency notes from the beginning of the next fiscal year. The move is currently at the pilot stage; the RBI will first test how polymer notes perform under Indian climatic and infrastructural conditions before a wider rollout, aiming to improve note durability and security.
Nabka Insight
A change in the material of India's currency notes — examinable under banking and economy.
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- RBI to introduce polymer currency notes from the start of the next fiscal.
- Announced by RBI Governor Sanjay Malhotra.
- Currently at pilot stage; notes to be tested for Indian climate and conditions.
Background
Relevant forBanking · SSC · State PSC · UPSC