The Reserve Bank of India (RBI) is exploring the possibility of introducing polymer or plastic currency notes, as confirmed by Governor Sanjay Malhotra. However, no final verdict has been reached on this matter. Malhotra emphasized that the proposal is still in the preliminary stages of evaluation.
He clarified that while reports on polymer notes are partially accurate, the RBI has not made a conclusive decision yet. The central bank is carefully weighing the advantages and challenges associated with polymer currency before making a final determination. Malhotra assured that the RBI is closely monitoring the availability of currency in the banking system and is ready to address any localized shortages promptly.
Moreover, Malhotra highlighted that the RBI has ample currency reserves for ATMs and bank branches, ensuring swift replenishment in case of shortages. The central bank is committed to swiftly addressing any currency shortages at specific locations and maintaining a steady supply across the banking network.
