The Reserve Bank of India is reported to be advancing preparations for polymer banknotes. The current focus includes tender-related work and feasibility assessment, which places the issue in the broader frame of currency durability, security, and cash-management efficiency.
Polymer currency matters because it can last longer than conventional paper notes and can support different security features. The present update suggests that the Reserve Bank of India is still at a preparation stage rather than a full rollout stage.
What the Reserve Bank of India is doing
The available source points to three connected actions by the Reserve Bank of India:
The central bank is examining the feasibility of polymer currency for future circulation.
The central bank is issuing or floating a tender linked to the project.
Related current affairs
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- ‘Polymer currency notes will be in circulation from next FY’