As per the RBI, these polymer banknotes are proposed to be issued along with paper substrate-based banknotes,” she said. ADVERTISEMENTThe RBI has informed that the procurement process is presently at an initial stage, she said. Therefore, she said, at this point of time, it would not be possible to practicably determine the exact timeframe for introduction of polymer banknotes or the expenditure likely to be incurred thereon. However, she said, it is still below the Reserve Bank of India’s inflation target of 4 per cent. This resulted in rationalisation of rates on many goods and services from 28 per cent to 18 per cent, 18 per cent to 12 or 5 per cent, and from 12 per cent to 5 per cent/nil.