India to Introduce Polymer Banknotes in ₹10 and ₹20 Denominations

The Indian government has approved a proposal to introduce polymer banknotes in ₹10 and ₹20 denominations. The Reserve Bank of India (RBI) will print one billion polymer banknotes for each denomination, with field trials set to begin on July 27, 2026. Once the trials are successful, regular issuance is expected to start.

Polymer banknotes are made from a plastic-based substrate and offer improved durability compared to traditional paper pulp notes. Countries such as Australia, Canada, New Zealand, and the United Kingdom have already adopted polymer notes in various denominations.

Bharatiya Reserve Bank Note Mudran Private Limited (BRBNPL), the currency-printing subsidiary of the RBI, has floated a Global Expression of Interest for the supply of opacified polymer substrate sheets. The ₹10 and ₹20 notes are among the lower denominations used widely in retail transactions and public transport payments.

The government has stated that polymer banknotes will circulate alongside existing paper-substrate banknotes, with no plan to replace paper currency entirely. Any assessment of the effect on digital payment systems will be made after regular issuance begins.