Indian currency may change. Presently the currency notes are made of paper, it will be discontinued in the near future, but plastic notes can be seen in India in no time. RBI is preparing to start pilot projects of polymer bank notes in the country in due course. For which RBI has issued a global tender for Policemar. RBI believes that if the initial trials are successful, then these new notes can be launched in the market in a phased manner from the year 2027. However, this will not stop existing paper notes. Both types of currency will be moving side by side for some time. Initially, RBI approved this project at Rs. 10 and 20 currency notes will be trialled on a limited scale. RBI then aims to understand how effective these notes are in Indian weather, consumption and market conditions. Polymer notes are made from a special type of strong plastic-like material, making them more durable than regular paper notes. Notes can tear mostly due to pocketing or frequent use. In addition, modern security features are easy to add to Polymer Notes. Due to this, it becomes more difficult than before to prepare fake notes. In such a scenario, the advent of polymer notes can also curb counterfeit currency to a great extent. It may be mentioned here that in order to further the process of preparing polymer notes, RBI's Note Printing Unit has sought applications from companies across the world for availability of special polymer sheets. New notes will be printed on these sheets. Polymer notes have been around for many years in many countries such as Australia, Canada, the UK and New Zealand. The experience of these countries shows that notes last longer and do not deteriorate quickly.
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