The government has approved the introduction of one billion polymer banknotes of ₹10 and ₹20 for field trials, Parliament was informed on Tuesday (August 11, 2026). As per the RBI, these polymer banknotes are proposed to be issued along with paper substrate-based banknotes," she said. The 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. This resulted in rationalisation of rates on many goods and services from 28% to 18%, 18% to 12 or 5%, and from 12% to 5%/nil.