RBI Polymer Note Trials: One Billion ₹10 and ₹20 Notes
Why in the news
The Centre gave the go-ahead for RBI to test plastic-type polymer banknotes on a large scale in two low denominations.
Key facts
- Quantity: one billion notes each of ₹10 and ₹20.
- Purpose: judge durability, security features and public acceptance in different conditions.
- Status: an additional option; paper notes are not replaced right away.
- Legal basis: proposal made under Section 25 of the RBI Act, 1934.
Exam angle
- Denominations in the trial: ₹10 and ₹20.
- Provision cited: Section 25, RBI Act, 1934.
- Approval by the Government of India of an RBI proposal.