RBI polymer note pilot excites numismatists, Kolkata notaphilist showcases global polymer banknote collection
Times of India | 28 August 2026
KOLKATA: India’s proposed move to introduce polymer currency notes from the next financial year has stirred excitement among collectors and currency enthusiasts, with Kolkata-based notaphilist Deb Kumar Paul showcasing a rare collection of polymer banknotes from all countries that have issued them so far.
RBI Governor Sanjay Malhotra has said the project is at a pilot stage and that polymer notes are expected to enter circulation in India from the next financial year. The proposed shift is being seen as a step towards more durable currency, offering relief from the familiar problem of soiled, brittle and easily damaged paper notes.
“I am very excited about India joining a few select nations that have introduced polymer notes,” said Paul, who has built an extensive collection of polymer currency notes from 89 countries.
Polymer banknotes, made from a synthetic substrate, are known for their longer life and resistance to moisture and wear. Their modern security features have also made them attractive to central banks across the world.
The global journey of polymer currency began in Australia in 1988, when the country issued its first polymer note to mark the Bicentennial of British settlement from 1788 to 1988. The commemorative note, featuring an Aboriginal youth, rock painting and a ceremonial “Morning Star” pole, is among the prized pieces in Paul’s collection.
His collection traces the spread of polymer currency across continents. It includes Europe’s first polymer note, issued by Romania to mark the total solar eclipse of August 11, 1999; Asia’s first, introduced by Indonesia in 1993 to commemorate 25 years of development from 1968 to 1993 and featuring President Haji Mohamed Soeharto; North America’s first, issued by Mexico in 2001 with the portrait of former president Benito Juárez; South America’s first, introduced in 2004 featuring Manuel Rodrigues Erdoyza; and Africa’s first, issued by Zambia in 2003 with the African fish eagle.
“Asia has the largest number of countries that have issued polymer banknotes, while South America has the least,” Paul said.
Among the many notes in his collection, Paul considers China’s 20 Yuan polymer note, issued in 2022 to mark the Olympic Winter Games, the most beautiful. He also has the latest polymer banknotes issued by St. Helena in 2026.
For Paul, India’s planned entry into the polymer currency era is not merely a technical change in the way money is printed. It is a moment of historical significance for collectors and citizens alike.
“As a passionate numismatist, I eagerly await India’s entry into this remarkable journey, which will add a proud new chapter to the history of Indian currency,” he said.