India may soon witness a major change in its currency system as the RBI explores the introduction of polymer or plastic banknotes. These notes are more durable, resistant to water and dirt, and much harder to counterfeit than traditional paper notes.
Despite the rapid growth of UPI and digital payments, demand for cash remains strong, especially for lower denomination notes. If approved, plastic currency notes could be introduced in phases across the country, offering longer life and enhanced security features for everyday transactions.
