Central bank is preparing to pilot the new currency substrate after securing govt approval for large-scale field trials

MUMBAI: Polymer banknotes are likely to enter circulation at the beginning of FY28, RBI governor Sanjay Malhotra said, as the central bank prepares to pilot the new currency substrate after securing govt approval for large-scale field trials. The Centre has permitted the RBI to print two billion pieces of polymer notes initially for field trials, the government informed Parliament on Monday. RBI has floated a tender to source material.