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Government Approves RBI Field Trials of Rs 10 and Rs 20 Polymer Banknotes

31 July 2026National

The Finance Ministry approved the Reserve Bank of India's (RBI) proposal, under Section 25 of the RBI Act, 1934, to issue 100 crore (1 billion) pieces each of Rs 10 and Rs 20 polymer banknotes - about 2 billion notes in total, worth roughly Rs 3,000 crore - for field trials. The approval was conveyed to Parliament by Minister of State for Finance Pankaj Chaudhary. The government clarified that paper currency is NOT being phased out; polymer notes will circulate alongside existing paper notes. Polymer (plastic) banknotes are more durable, harder to counterfeit and last significantly longer than paper. If trials succeed, the RBI will issue polymer notes in these denominations regularly.

Static GK

RBI established 1 April 1935 | HQ: Mumbai | Governor (2026): Sanjay Malhotra | Currency issued under Section 25, RBI Act 1934 | Rs 1 note is issued by Ministry of Finance (signed by Finance Secretary), all others by RBI

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The Finance Ministry approved RBI's plan to issue 1 billion pieces each of Rs 10 and Rs 20 polymer banknotes for field trials, under Section 25 of the RBI Act, 1934. • Polymer notes will circulate alongside paper currency - paper notes are not being phased out.

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