RBI Governor Sanjay Malhotra announces pilot for India's polymer notes
Get ready: India might soon have its first plastic (polymer) currency notes!
RBI Governor Sanjay Malhotra announced on August 5, 2026, that a pilot project is underway to see how these new notes hold up in real-life Indian conditions.
If all goes well, you could see them in circulation at the beginning of the next financial year.
Polymer notes last 3-4 times longer
Polymer notes are designed to last much longer than regular paper ones, especially those lower-value notes we use all the time.
Malhotra mentioned that countries using polymer notes have seen them survive three to four times longer.
The RBI has already started sourcing materials and, after the notes undergo testing followed by the necessary security clearances before they are put into circulation, hopes to have these durable new bills in circulation at the beginning of the next financial year.