India may soon get plastic notes: Why they matter and what happens to paper money
The Reserve Bank of India (RBI) has issued a tender to procure materials for polymer banknotes, reviving a proposal that has been under consideration for nearly 20 years. Polymer notes, made from durable plastic film, offer a longer lifespan and greater resistance to wear compared to traditional paper currency. If implemented, this shift could reduce the frequency of currency replacement and enhance the overall durability of India's banknotes.