RBI to launch polymer currency in FY28: Guv
India, Aug. 6 -- Governor Sanjay Malhotra on Wednesday said the Reserve Bank of India 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, 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," Malhotra said. Malhotra said the next move of the Reserve Bank of India (RBI) on the crucial aspect of interest rates and also the stance of the policy will be dat...
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