Bhubaneswar: India is preparing to introduce its first polymer (plastic) banknotes, with the Reserve Bank of India (RBI) planning to roll out ₹10 and ₹20 polymer notes from April 2027, subject to the successful completion of nationwide field trials.
For the pilot programme, the government has approved the printing of one billion ₹10 notes and one billion ₹20 notes. The polymer notes are expected to circulate alongside existing paper currency, meaning current banknotes will not be withdrawn as part of the initiative.
Made using a durable polymer substrate, the new notes are expected to last two to four times longer than conventional paper currency. They should also offer greater resistance to water, dirt and everyday wear and tear.
The proposed notes are expected to incorporate enhanced security features aimed at making them more difficult to counterfeit, while their longer lifespan could potentially reduce the frequency with which worn-out notes need to be replaced.
The move revives a proposal that India explored more than a decade ago. If the pilot programme proves successful, it could eventually open the door to the introduction of polymer banknotes in higher denominations.
If the trials succeed, India’s currency could be entering a more durable—and more secure—plastic era.
-OdishaAge
