Plastic notes of ₹10 and ₹20 will soon be seen in the market. Reserve Bank will print notes made of polymer i.e. plastic worth Rs 100-100 crore i.e. total Rs 200 crore. This is a trial of plastic currency, if it is successful then more notes will be printed. The Central Government has approved this. Minister of State for Finance Pankaj Chaudhary gave this information in the Lok Sabha on Monday. After the successful trial of polymer banknote, RBI will regularly issue notes of both ₹10 and ₹20 denominations. However, the existing paper currency will also continue to exist. It will not be closed. 10 days ago it was told in media reports that RBI is soon going to start the first pilot project of notes made of polymer in the country. This is the next step in RBI’s plan to bring new generation currency in the country. Old paper notes will also be valid along with the new notes. The arrival of polymer notes in the Indian market does not mean that the existing paper notes will immediately go out of circulation. The government has made it clear that the new currency will not replace the old paper notes. RBI issued global tender RBI’s note-printing unit issued ‘Expression of Interest’ (EOI) at the global level. This tender has been invited for the manufacturing and supply of a special type of ‘Polymer Substrate Sheet’, which is used to print these notes. According to the documents, manufacturers from across the world have been invited to supply polymer substrate equipped with advanced safety features. The last date for submitting bids under this tender has been fixed as August 18. Steps to extend the life of notes and increase demand: A report in May said that the RBI was considering printing polymer banknotes to increase the shelf life of the notes and to meet the demand that has increased in the last few years. Subsequently, in June, RBI Governor Sanjay Malhotra had confirmed that the proposal of polymer banknotes is under consideration and the central bank is evaluating its pros and cons. Polymer notes are already in circulation in 60 countries of the world. Polymer banknotes have been included in circulation in more than 60 countries of the world. These include countries like Australia, Canada, United Kingdom (UK) and New Zealand. India first attempted to introduce polymer banknotes in 2012 to increase the shelf life of the notes. However, the project was put on hold at that time due to technical challenges. The new notes will not tear and will be safe from water and dust. Banknotes made of polymer are much more durable than traditional paper notes. These notes remain safe even in water, dirt and dust. Apart from this, these notes do not tear easily. Because of this, they remain unbroken and clean in the market for a long time. The biggest advantage of polymer sheet is that advanced safety features can be easily added to it. This makes it almost impossible for fraudsters making fake notes to copy them, which will further strengthen the country’s security system. ₹ 6,372.8 crore spent on printing in 2024-25 According to the RBI’s annual report for the financial year 2024-25, ₹ 6,372.8 crore was spent on printing of paper notes. In the last financial year (FY24) this expenditure was ₹5,101.4 crore. This expenditure has increased due to increase in printing expenses. What are polymer banknotes? Instead of paper, these notes are printed on a special type of plastic material i.e. polymer substrate. These are as light to touch as normal notes, but do not fade even when soaked in water and last a long time. What is expression of interest? This is a kind of global tender document, through which the Reserve Bank invites experienced and qualified companies from around the world to send proposals with their capacity, technology and prices for the project.
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Plastic notes of ₹ 10 and ₹ 20 will soon be issued in the country: 200 crore notes will be printed for trial; paper notes will also work
