The Centre has approved the Reserve Bank of India's proposal to introduce polymer banknotes in ₹10 and ₹20 denominations for field trials, but said there is no proposal to replace existing paper currency with plastic notes.
Replying to a question in the Lok Sabha on Monday, Minister of State for Finance Pankaj Chaudhary said the RBI, with the recommendation of its Central Board, had proposed the introduction of one billion pieces each of ₹10 and ₹20 polymer banknotes for field trials, followed by regular issuance after the successful completion of the trials. The proposal has been approved by the government.
