India clears ₹10 and ₹20 polymer-note trials, with regular issuance planned
The RBI will test polymer ₹10 and ₹20 notes before regular issuance, with the new notes set to circulate alongside paper currency rather than replace it. The move could affect cash-handling durability and costs for retailers and banks.
What happened
Reserve Bank of India · India approved field trials and eventual regular issuance of ₹10 and ₹20 polymer notes. RBI says plastic notes will circulate alongside
Key facts
- ₹10
- ₹20
- 1 billion pieces each
- 68,000 reams
- 34,000 reams per denomination
- 30% minimum bid quantity
- 20,400 reams
- 2,810 crore currency notes supplied
- ₹4,800 crore spent on note printing
- 1,700 crore soiled notes destroyed
- 11.9% increase in value of notes in circulation
- 10.5% increase in volume of notes in circulation
Why this matters
Banks, cash-logistics firms and payment-infrastructure players should monitor the trials for opportunities in polymer-note validation, sorting and ATM compatibility as issuance scales.
What to watch
- RBI announcement of trial geographies, duration, volumes and evaluation criteria.
- Reports of ATM, cash recycler, vending or note-sorting compatibility issues.
- RBI or bank data on note lifespan, replacement rates, counterfeiting and clean-note circulation.
- Expansion from ₹10 and ₹20 notes to additional denominations.
- Changes to currency-printing, cash-logistics or damaged-note exchange policies.
- Banks and cash-management firms audit ATM, sorter, recycler and note-authentication compatibility for polymer substrates.
- Large cash-heavy retailers update cashier guidance on note feel, verification and damaged-note handling.
- ATM operators and retail cash logistics providers track note-fit, jam and recirculation performance during field trials.
- Payment providers and merchants use the rollout to reinforce digital-payment adoption, especially where low-value cash transactions remain operationally costly.
Also reported by
- BL · Consumer & Economy — Same time