The Government of India has approved the Reserve Bank of India’s proposal to conduct field trials of polymer banknotes in ₹10 and ₹20 denominations. The proposal was disclosed by Minister of State for Finance Pankaj Chaudhary in a written reply to the Lok Sabha. RBI has proposed one billion pieces of each denomination for the trials. 

That means the proposed trial quantity is:

• ₹10 notes: 1 billion pieces
• ₹20 notes: 1 billion pieces
• Total: 2 billion pieces

Will India Get ₹10 and ₹20 Plastic Notes?

Possibly, but they are not being introduced for regular circulation yet. The current plan is to conduct field trials first. Regular issuance will follow only if the trials are successful. Therefore, the announcement does not mean that the existing ₹10 and ₹20 notes will be replaced immediately.

Will Polymer Banknotes Replace Paper Currency?

No. Polymer banknotes will not replace paper currency. The RBI plans to issue them alongside existing paper-based currency. If the trials are successful, both types could circulate together:

• Paper ₹10 and ₹20 notes
• Polymer ₹10 and ₹20 notes

There is currently no proposal to completely replace paper currency.

What About Digital Payments?

The government has not yet determined how the new notes could affect digital payments. Pankaj Chaudhary said the project is still in its preliminary phase. The impact can be assessed only after the notes are regularly issued and used. For now, the government has not said whether the new currency will increase or reduce the use of:

• UPI
• Debit and credit cards
• Mobile payments
• Other digital payment methods

Any such assessment would come later, after observing actual circulation and public use.

Is This India’s First Attempt at Polymer Notes?

India has explored this type of currency before. An earlier trial involved one billion ₹10 notes across five cities. The cities were Kochi, Mysore, Jaipur, Shimla and Bhubaneswar. The trial tested how the notes performed under different climatic conditions. Its primary aim was to extend their lifespan. The latest proposal covers both ₹10 and ₹20 polymer banknotes.

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