The government approved the introduction of one billion polymer banknotes in the denominations of ₹10 and ₹20. The Reserve Bank of India has informed that the procurement process for these notes is presently at an initial stage. The step marks India's formal move toward adopting polymer currency notes.
Nabka Insight
First formal approval for polymer notes — examiners test the denominations and quantity.
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- Quantity approved: one billion polymer banknotes.
- Denominations: ₹10 and ₹20.
- RBI says the procurement process is at an initial stage.
Background
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