New Delhi: The Reserve Bank of India (RBI) has said plastic rupee notes will be introduced in the next financial year, 2027-28.
India has so far used paper-based currency notes since the rupee note system began. The RBI’s move will bring plastic notes into circulation for the first time.
In the initial phase, ₹10 and ₹20 plastic notes are planned to be issued. As per the pilot proposal, 10 billion notes each of ₹10 and ₹20 will be printed and released into circulation, RBI Governor Sanjay Malhotra said.
He added that there is no plan to discontinue paper currency notes, and they will continue alongside the new plastic notes.
