Instead of paper, now you will have plastic notes in your hands! There is no tension of bursting or melting, RBI is making this special plan

RBI Planning to Launch Plastic Notes: A big update has come out regarding Indian rupee notes. In view of the continuously increasing demand for notes in the country, the Reserve Bank of India is considering a plan to print notes made of plastic or polymer. As per media reports, this issue has been discussed in detail in the last two board meetings of RBI held in Patna and Mumbai.

This decision is being taken due to the durability and low production cost of polymer notes. There is a possibility that a pilot project for the use of plastic notes for the general public may be started soon.

Why is RBI going to introduce plastic notes?

reserve Bank of India The main reason behind this decision is the lower cost and greater durability of the notes. According to RBI, the production cost of polymer notes is much lower than the paper notes currently in circulation. Apart from this, India has advanced a lot in the field of technology and the country’s ATMs will be upgraded to easily dispense these plastic notes.

How many notes were destroyed in the financial year 2024-25?

According to an RBI report, Indian currency notes worth about Rs 23.8 billion were destroyed in the financial year 2024-25, which is 12.3 percent more than Rs 21.24 billion last year. Among these, the highest number was of Rs 500 and Rs 100 notes. Destroying such large quantities of old notes and then printing new notes puts a huge burden on government expenditure. The cost of printing notes in the financial year 2025-26 was Rs 6,372.8 crore, which is much higher than Rs 5,101.4 crore last year. The introduction of plastic notes will reduce this expenditure significantly.

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Demand for cash increased despite digital payment

on one side of the country digital payment Are growing very fast. But, on the other hand, there does not seem to be any decrease in the demand for cash. As of May 15, total liquidity in the market (CIC) rose by 11.5 per cent to a record high of Rs 42.86 lakh crore. Despite higher demand for smaller notes (Rs 10 and Rs 20), their share in total CIC is 0.7 per cent and 0.8 per cent respectively. The government tried to promote coins, but did not achieve the expected success.