RBI trials polymer ₹10 and ₹20 notes to extend life
Business
The Reserve Bank of India is exploring ways to extend the life of banknotes.
In surface coatings on banknote substrates are being examined, and ₹10 and ₹20 notes will be field-trialed in a polymer version.
With 176 billion banknotes floating around, way more than the US dollar or the euro, making them last longer just makes sense.
Pankaj Chaudhary says cash use growing
Don't worry: polymer notes are just a trial run and won't replace regular paper currency.
Minister of State for Finance Pankaj Chaudhary says both cash and digital payments are here to stay, especially since cash use is still growing fast despite all the digital options.
Plus, they're working to reduce the carbon footprint of the cash cycle by improving how they dispose of "banknote briquettes."