Government approves field trials for Rs 10 and Rs 20 polymer banknotes
The Indian government has approved a proposal from the Reserve Bank of India to introduce polymer banknotes in denominations of Rs 10 and Rs 20 on a trial basis. Finance Minister Nirmala Sitharaman informed Parliament that one billion pieces of each denomination will be issued for field trials. These new notes are intended to improve the durability of lower denomination currency and will circulate alongside existing paper notes. If the trials prove successful, the government plans to move toward regular issuance of these polymer banknotes.
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What Happened
The Union government has granted approval for the Reserve Bank of India to conduct field trials for polymer banknotes in denominations of Rs 10 and Rs 20. Finance Minister Nirmala Sitharaman confirmed the decision in a written reply to the Rajya Sabha, noting that the proposal was submitted under Section 25 of the Reserve Bank of India Act, 1934. The plan involves the issuance of one billion pieces for each denomination, totaling two billion notes for the initial testing phase.
The introduction of polymer currency is aimed at enhancing the longevity of banknotes and reducing the prevalence of damaged paper currency in circulation. These polymer notes are expected to coexist with existing paper currency during the trial period. Procurement processes for the new notes are currently in the initial stages, and the government will evaluate the success of these field trials before determining whether to proceed with a full-scale rollout.
Background
The Reserve Bank of India is the central banking institution responsible for the issuance and management of currency in India under the Reserve Bank of India Act, 1934.
Standing context, compiled from public reference sources rather than from the coverage above.
Key Facts
- The government approved the issuance of one billion pieces each of Rs 10 and Rs 20 polymer banknotes.Source not recorded
- The initiative is being launched as a field trial to test the durability of the new currency.Source not recorded
- Polymer notes will circulate alongside existing paper banknotes.Source not recorded
- The proposal was submitted by the Reserve Bank of India under Section 25 of the RBI Act, 1934.Source not recorded
- Finance Minister Nirmala Sitharaman announced the approval in Parliament.Source not recorded
- Regular issuance of the notes will be considered following the successful completion of field trials.Source not recorded
The Timeline15
Every article on this story, in the order it was filed. We do not rank the outlets.
11 Aug
- HTTHindu Tamil Thisaiரூ.10, ரூ.20 பிளாஸ்டிக் நோட்டுகளுக்கு அரசு அனுமதி: நிர்மலா சீதாராமன் தகவல்
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12 Aug
- SiThe Siasat Dailyہندوستان میں پہلی بار پلاسٹک نوٹوں کے چلن کی تجویز
CoverageWhat we read
Language reach
Dailies carrying this story, against the dailies we read in each language.
- English3 of 9
- Bengaliবাংলা2 of 2
- Marathiमराठी1 of 2
- Teluguతెలుగు1 of 2
- Tamilதமிழ்1 of 2
- Urduاردو2 of 2
- Kannadaಕನ್ನಡ1 of 1
- Odiaଓଡ଼ିଆ2 of 2
- Punjabiਪੰਜਾਬੀ1 of 1
Regional reach
Where this story reached, and where it did not. National mastheads and wire agencies circulate everywhere and are counted separately, not drawn on the map.
- None carried this
- No source registered
- 1 outlet
- 2 or more
- NorthCarried2 of 4
- WestCarried2 of 5
- Central IndiaNot carried0 of 1
- EastCarried5 of 5
- North-eastCarried1 of 2
- SouthCarried6 of 10
16 of the 26 states we read have local coverage. Spread across the country, with no regional concentration. Also carried by 2 national mastheads.
About This Analysis
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