Polymer currency notes will enter circulation in India from the start of the next financial year, Reserve Bank of India Governor Sanjay Malhotra stated on Wednesday. The central bank remains in a testing phase to evaluate how the notes perform under local climate and infrastructure conditions before deciding on full rollout or adjustments. Officials aim for introduction at the beginning of the coming fiscal period if all proceeds according to schedule. The polymer notes are expected to improve durability for lower denomination bills, which experience higher usage and shorter lifespan. Similar notes have circulated in other nations for over three decades, lasting three to four times longer than paper versions. They will also help meet growing economic demands. The government has approved production and distribution, leading the RBI to issue a tender for polymer substrate. Testing, security approvals, and added security features will follow. Around 60 countries already use polymer notes in full or part, including Australia, the United Kingdom, and Vietnam.
