Rs 10, Rs 20 Notes Set For Major Change: FM Sitharaman Tells Rajya Sabha

The
gove me t
has
app oved
the
i t oductio
of
o e
billio
polyme
ba k otes
each
of
Rs
10
a d
Rs
20
fo
field
t ials,
Fi a ce
Mi iste
Ni mala
Sitha ama
i fo med
the
Rajya
Sabha
o
Tuesday.
The
Rese ve
Ba k
of
I dia
(RBI),
followi g
a
ecomme datio
f om
its
Ce t al
Boa d,
had
p oposed
the
move
u de
Sectio
25
of
the
RBI
Act,
1934.
If
the
t ials
a e
successful,
polyme
otes
i
both
de omi atio s
may
be
issued
egula ly.
The
ew
otes
will
ci culate
alo gside
existi g
pape -based
cu e cy,
while
the
p ocu eme t
p ocess
emai s
at
a
i itial
stage.

Rs
10,
Rs
20
Polyme
Notes
App oved

The
RBI
has
p oposed
o e
billio
pieces
each
of
Rs
10
a d
Rs
20
polyme
ba k otes
fo
field
t ials.
The
gove me t
has
app oved
the
p oposal,
pavi g
the
way
fo
the
i itial
testi g
of
polyme
cu e cy
i
these
two
de omi atio s.

The
p oposal
was
submitted
by
the
RBI
afte
a
ecomme datio
f om
its
Ce t al
Boa d
a d
u de
Sectio
25
of
the
Rese ve
Ba k
of
I dia
Act,
1934.

The
move
does
ot
mea
existi g
pape
otes
will
be
withd aw .
Acco di g
to
the
RBI,
polyme
ba k otes
a e
p oposed
to
be
issued
alo gside
pape
subst ate-based
ba k otes.

This
mea s
Rs
10
a d
Rs
20
pape
otes
will
co ti ue
to
ci culate
eve
if
polyme
ve sio s
a e
i t oduced.

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Whe
Will
Plastic
Notes
Reach
Public?

The e
is
o
co fi med
timeli e
yet
fo
whe
the
ew
polyme
otes
will
each
the
ha ds
of
the
public.

The
Fi a ce
Mi ist y
said
the
p ocu eme t
p ocess
is
cu e tly
at
a
i itial
stage.
Because
the
p ocess
has
o ly
just
begu ,
it
is
ot
possible
at
p ese t
to
dete mi e
the
exact
timef ame
fo
i t oduci g
polyme
ba k otes
o
the
expe ditu e
i volved.

The
gove me t
app oval
the efo e
ma ks
the
sta t
of
the
p ocess
athe
tha
a
immediate
ollout.

Fo
ow,
pape
cu e cy
emai s
i
ci culatio ,
a d
the e
is
o
stated
date
fo
whe
the
polyme
ve sio s
will
be
available
to
the
public.

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