RBI to trial ₹3,000 crore of polymer ₹10 and ₹20 notes across five cities
The RBI will issue 100 crore polymer notes each in ₹10 and ₹20 denominations for a field trial in Kochi, Mysuru, Shimla, Jaipur and Bhubaneswar. The notes will circulate alongside paper currency; broader issuance will depend on trial results.
What happened
Reserve Bank of India · RBI will trial 100 crore polymer notes each in Rs 10 and Rs 20 denominations, valued at Rs 3,000 crore. The notes will circulate
Key facts
- 100 crore Rs 10 notes
- 100 crore Rs 20 notes
- Rs 3,000 crore total value
- 3.4 crore polymer sheets tendered
- Rs 10 and Rs 20 notes comprise nearly one-quarter of notes by volume
- 1.3% of currency value in circulation
- 2009 prior polymer-note trial
- More than 50 countries use polymer banknotes
Why this matters
Cash-management, ATM, vending and note-processing firms can use the five-city trial to validate polymer-note compatibility and pursue RBI-linked servicing, authentication and recycling opportunities.
What to watch
- RBI publication of pilot metrics on note life, soiling, counterfeit detection, ATM performance and replacement costs.
- Reports of polymer-note acceptance issues at retailers, vending machines, ticketing systems, bank counters or ATMs.
- Expansion of the trial to additional denominations or cities after the initial circulation period.
- RBI procurement orders for polymer substrates, printing capacity or upgraded currency-processing equipment.
- Any formal RBI statement comparing lifecycle cost per polymer note against cotton-paper notes.
- Retailers and bank branches in the five pilot cities should monitor acceptance, change-making and counterfeit-screening performance for ₹10 and ₹20 notes.
- ATM operators, cash-in-transit firms and currency-sorter vendors should test machine compatibility, sensor settings and note-jam rates.
- High-cash merchants should track whether cleaner, more durable small notes reduce rejection of worn currency and cash-handling time.
- Payments firms should avoid interpreting the pilot as a near-term signal of reduced cash usage; it is a currency-material test, not a digital-payments substitution policy.