RBI targeting polymer currency notes launch in early FY28: Sanjay Malhotra
RBI Governor Sanjay Malhotra announced that the central bank plans to launch durable polymer currency notes by early FY28. He also noted that future interest rate decisions will remain data-dependent, with a primary focus on maintaining 4% inflation.
Why it matters
The introduction of polymer notes represents a significant technological upgrade to India's physical currency infrastructure, while the monetary policy stance remains cautious regarding inflation.
Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday (August 5, 2026) said the RBI is targeting to launch long-lasting polymer currency notes at the beginning of the next financial year.
Speaking to reporters at the customary briefing after the monetary policy review , Mr. Malhotra said the polymer currency notes have lasted for over 30 years in some jurisdictions and will come in handy, especially for the lower denomination notes which have high velocity.
“We are targeting that they are in circulation if everything goes as per plan in the beginning of the next financial year,” Mr. Malhotra said.
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