New Delhi People across the country are excited about plastic currency. The path for polymer notes is now clear. Yes, the notes that were only being discussed earlier will soon be in your hands. The Reserve Bank of India (RBI) has now shared the timeline for when plastic notes will be launched. What Did The RBI Governor Say? After announcing the decisions of the MPC meeting today, RBI Governor said that polymer notes will enter the market in 2028. He added that the RBI is preparing to have these notes in circulation within the next 2 years. What Will Happen To Paper Notes? You might be wondering what will happen to the paper notes currently in circulation. The government has clarified that paper notes will NOT be discontinued. For now, both paper and polymer notes will run together in the market. What Are Plastic/Polymer Notes? Polymer notes are made from a special type of plastic. Key features: More Durable: They last longer than paper notes Waterproof: Can be washed and won’t tear easily Cleaner: They don’t get dirty as quickly Anti-Counterfeit: Much harder to fake compared to paper currency With better durability and security features, polymer notes are already used in countries like Australia, UK, and Canada. Post navigation Big Relief For Savers! This Bank Now Offers 7% On Savings Account And Up To 8.5% On FD
