India may soon get plastic notes: Why they matter and what happens to paper money

The RBI has recently floated a tender to procure material for polymer banknotes, reviving a proposal that has been under consideration for nearly two decades. Polymer notes, which are produced using durable plastic film instead of paper, generally have a longer lifespan and require replacement less frequently because t

The RBI will issue 100 crore Rs 10 notes and 100 crore Rs 20 notes, taking the total trial to 200 crore polymer banknotes worth around Rs 3,000 crore.

3 min readUpdated: Jul 27, 2026 08:03 PM IST The mention of the two denominations of banknotes is the first official confirmation of which notes will be targeted in the RBI’s field trials.The Reserve Bank of India’s (RBI) trial of plastic notes will see the introduction of 100 crore pieces of Rs 10 and Rs 20 notes each