Is India Going to Introduce Plastic Currency Notes?
The RBI is considering introducing long-lasting polymer banknotes to reduce currency replacement costs and improve security.
Your ?10 or ?20 note could soon get a plastic makeover.
The RBI is once again exploring polymer banknotes—flexible, plastic-based currency already used in over 60 countries, including Australia, Canada, and Singapore.
Unlike traditional paper notes, polymer notes are more durable, resistant to dirt and moisture, and harder to counterfeit thanks to advanced security features like transparent windows and holograms. They also last much longer, reducing the need for frequent replacements.
The move comes as India's currency printing costs continue to rise, with over 23.8 billion damaged notes withdrawn from circulation in FY25 alone.
India had tested polymer ?10 notes in five cities back in 2012, but the project was shelved due to technological challenges, particularly with ATMs. This time, ATMs are expected to be upgraded to support the new notes.
The RBI is likely to begin with a pilot project, starting with lower denominations such as ?10 and ?20. If successful, it could mark one of the biggest changes to India's currency system in more than a decade.
