RBI Invites EoI for Polymer Substrates: Plastic Currency Push After 2009 Proposal

RBI to Launch Polymer Currency Notes in FY28: Higher Durability, 3-4x Life of Paper Notes

RBI Governor Sanjay Malhotra announced that polymer currency notes will be in circulation from the beginning of the next financial year (FY28). The move aims to enhance durability (3-4 times longer life than paper) and expand the RBI's capacity to meet growing economic needs. A pilot phase is underway to test performance under Indian conditions.

RBI to Launch Polymer Banknotes of ₹10 and ₹20 from FY28, Trial of 100 Crore Pieces Each

The RBI will introduce polymer (plastic) banknotes of ₹10 and ₹20 denominations from the start of FY28 to enhance durability and expand currency capacity. A trial of 100 crore pieces of each denomination (total ₹3,000 crore) will be conducted, with field tests for Indian climate conditions before full-scale circulation.

RBI Subsidiary BRBNMPL Issues EOI for Polymer Substrate: 68,000 Reams for Rs 10 & Rs 20 Notes

India moves closer to introducing polymer banknotes in Rs 10 and Rs 20 denominations. Bidders for the polymer substrate must certify no animal tallow and firewall operations from China/Pakistan. The RBI subsidiary BRBNMPL requires 68,000 reams of substrate, with samples tested across climatic zones.

RBI Resumes UCB Licensing on 'On Tap' Basis After 20+ Years, Reviews RCB Norms

RBI is resuming licensing of Urban Cooperative Banks after a 20+ year pause, issuing draft guidelines on 'on tap' basis. Alongside, it will review concentration risk management for Rural Cooperative Banks (RCBs) and rationalise the interest rate framework for all regulated entities. This signals a major regulatory shift for the cooperative banking sector, crucial for financial inclusion and banking regulation.

RBI Resumes UCB Licensing After 2 Decades: ₹300 Cr Capital, 12% CAR Mandated

RBI has ended its two-decade-long moratorium on issuing new licenses to Urban Cooperative Banks (UCBs) with a stringent on-tap framework. The new policy mandates a minimum capital of ₹300 crore, a capital adequacy ratio of 12%, and a net NPA of less than 3% to ensure only strong, well-governed entities enter the sector, aiming to deepen financial inclusion for MSMEs.

RBI Issues Comprehensive Loan Recovery Rules: Phone Lock Allowed After 60 Days, Compensation ₹250/hr for Delayed Restoration

RBI has issued a consolidated framework for loan recovery by commercial banks, effective January 1, 2027. For the first time, it regulates technology-based restrictions on financed devices (smartphones/laptops) — allowing phone locking after 60 days of default, but with strict safeguards including ₹250/hour compensation for delayed restoration. This is a high-impact regulatory reform for Banking exams and UPSC GS3.

RBI to Launch Polymer Banknotes of Rs 10 and Rs 20 from FY28: 100 Crore Pieces Each

The RBI plans to introduce polymer banknotes in Rs 10 and Rs 20 denominations from FY28 to enhance durability and expand capacity. This move has significant environmental benefits and security advantages, but raises concerns about import dependency. Students should note the global adoption, cost-benefit analysis, and legal tender definitions.

UPI Should Remain Free Public Good: ₹2,000 Cr Subsidy, ₹1,500 Cr Saved on Currency

The article argues against imposing surcharges on UPI payments, framing the digital payment system as a public good. It claims the real driver for the shift in policy is U.S. pressure, through tariffs and trade deals, to protect American financial companies (Visa, Mastercard) against India's free, state-backed UPI system.