Plastic notes in India coming soon: Why?
The Indian government approved the Reserve Bank of India's (RBI) plan to introduce polymer notes in ₹10 and ₹20 denominations for field trials, a proposal first announced over a decade ago. The RBI indicated that polymer notes have a longer lifespan than paper notes, enhancing durability, but clarified that existing paper currency will not be replaced. If trials succeed, regular issuance of polymer notes will follow, while both physical and digital payment systems will continue to coexist.