On Wednesday, RBI Governor Sanjay Malhotra announced that the central bank intends to introduce India's inaugural polymer banknotes starting in the upcoming fiscal year. These plastic notes are set to be used in tandem with current paper money rather than acting as a replacement. According to Malhotra, the increased durability of polymer notes will improve the longevity of smaller denominations and assist in boosting the nation's overall capacity for printing currency.

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