SRINAGAR: The Union Government has approved a proposal from the Reserve Bank of India (RBI) to conduct field trials of one billion polymer banknotes each in the Rs 10 and Rs 20 denominations, while making it clear that there is no proposal to replace paper currency with polymer notes. The proposal also envisages regular issuance of these denominations after the successful completion of the trials. The Finance Ministry said the RBI has cited international studies indicating that polymer banknotes have a significantly longer lifespan than conventional paper currency, making them more durable. On the possible impact of polymer notes on digital payments, the RBI said the initiative remains in a preliminary phase, and any assessment can be made only after the notes are issued regularly. Responding to a separate query, the Government clarified that the RBI proposes to issue polymer banknotes alongside existing paper-based banknotes, and there is no plan to replace paper currency with polymer notes.