Topic
banknotes
Finance Rupee banknotes outnumber dollar and euro in circulation, RBI deputy governor says
RBI Deputy Governor Shirish Chandra Murmu said 176 billion rupee banknotes are in circulation, three times the volume of US dollar bills and nearly six times euro notes. The scale reflects India's denomination mix and a 'cash paradox' of double-digit currency growth amid rising digital payments.
Finance Rupee Banknotes in Circulation Triple Dollar Bills, Nearly Six Times Euro Notes
RBI Deputy Governor Shirish Chandra Murmu said 176 billion rupee banknotes are in circulation, three times the number of US dollar bills and nearly six times euro notes. India produces 28–30 billion notes a year and is exploring polymer and coatings to extend note life. Currency in circulation keeps growing at double-digit rates despite digital payment adoption.
Finance India Approves Rs 10, Rs 20 Polymer Banknote Field Trials After RBI Proposal
The Indian government has approved the RBI's proposal to field-trial one billion each of Rs 10 and Rs 20 polymer banknotes. The central bank targets circulation from the next financial year, while polymer and paper notes will circulate together as legal tender. Finance Minister Nirmala Sitharaman also reported retail inflation at 3.9% in Q1 2026-27, below the RBI's 4% target.
Finance India Permits 2 Billion Rs 10, Rs 20 Polymer Notes for Field Trials
India has permitted the Reserve Bank of India to print 2 billion polymer notes — one billion each of Rs 10 and Rs 20 — for field trials, reviving a decades-old plan. The RBI has floated a global tender for polymer substrate sheets through BRBNMPL. Experts say polymer notes last two to three times longer than paper, lowering lifetime cost despite higher upfront unit cost, and paper currency will remain legal tender.
Business India Approves 2 Billion Polymer Banknotes for Field Trials as RBI Revives Plastic Currency Plan
The Indian government has authorised the Reserve Bank of India to print an initial batch of 2 billion polymer banknotes for field trials, with one billion Rs 10 notes and one billion Rs 20 notes. Minister of State for Finance Pankaj Chaudhary clarified that paper currency will not be replaced entirely. The move revives a proposal first announced in 2012 and comes as RBI's note printing expenditure fell nearly 25% to Rs 4,875 crore in 2025-26.
Finance India Approves 2 Billion Polymer Banknotes of Rs 10 and Rs 20 for Field Trials
The Indian government has permitted the Reserve Bank of India to print 2 billion polymer banknotes – 1 billion each of Rs 10 and Rs 20 denominations – for field trials. Minister of State for Finance Pankaj Chaudhary informed Parliament that the notes will be tested before regular issue, and polymer will coexist with paper currency. The move follows RBI's tender for sourcing materials and aims to leverage the longer lifespan of polymer notes highlighted by international studies.
Finance India's Currency Makeover: RBI Explores Polymer Banknotes for Rs 10 and Rs 20 Notes
India is moving toward polymer banknotes as the RBI's currency printing subsidiary, BRBNMPL, invites global bids for opacified polymer substrates. Initial denominations are likely Rs 10 and Rs 20, with polymer notes expected to be more durable and secure than current paper currency.
Commodities Polymer Notes: India's Potential Shift in Currency Material
The Reserve Bank of India is exploring the introduction of polymer currency notes to improve durability and security. This move could significantly reduce printing costs and counterfeiting risks.