RBI targets polymer banknotes rollout next fiscal

The Reserve Bank of India (RBI) plans to introduce polymer banknotes in Rs 10 and Rs 20 denominations from the beginning of the next financial year, Governor Sanjay Malhotra announced. The pilot aims to test durability, public acceptance, and counterfeit resistance. If successful, the central bank may extend polymer notes to higher denominations like Rs 100 and Rs 500. The notes will circulate alongside paper currency, marking a second attempt after a 2009 pilot was shelved.