The Indian government has approved plastic currency. Initially, 10 and 20 rupee notes will be circulated. Regarding this, the Reserve Bank of India, while announcing the results of the MPC meeting on Wednesday, kept the repo rate stable and also gave another big update. This is related to polymer notes or plastic notes. Recently, the Modi government had approved the central bank's proposal to issue polymer currency notes of 10 rupees and 20 rupees.

Reserve Bank
Governor Sanjay Malhotra stated that the RBI aims to introduce polymer currency notes, or plastic notes, into circulation by the beginning of fiscal year 2028, and that preparations are ongoing. In a media briefing after the MPC meeting, he stated that a pilot program for polymer notes is underway and that they will conduct testing and evaluation before introducing these notes into the market.

The Modi government has already approved the introduction
of ₹10-₹20 plastic notes. This major update from the RBI regarding the ₹10-₹20 plastic notes comes after the Finance Ministry recently approved the proposal in Parliament. It should be noted that the Narendra Modi government recently approved a proposal for field trials of polymer notes in ₹10 and ₹20 denominations.

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