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RBI Arm BRBNMPL Invites Global Bids For Polymer Banknote Substrate
RBI's polymer push: What is the new?
-RBI's wholly-owned subsidiary BRBNMPL invites global EOI for polymer banknote substrate
-BRBNMPL seeks bids for manufacture and supply of security-featured opacified polymer substrate sheets
-EOI aimed at empanelling global suppliers for substrate used in polymer banknotes
-Procurement exercise is preparatory in nature, not a decision to introduce polymer notes
-Bid submission deadline set for August 18, 2026Technical bids to be opened on August 18, 2026,
-Polymer notes last around 2.5-4 times longer than paper currency
-Higher durability lowers replacement frequency and lifecycle costs
-Better resistance to moisture, dirt, tearing and folding
-Can incorporate advanced anti-counterfeiting security features
-Transparent windows and complex security elements make duplication more difficult
-Cleaner notes in circulation due to non-porous surface
-Already used by several countries including Australia, Canada and the UK
Has RBI taken a decision?
-RBI has not taken a final decision on introducing polymer banknotes
-RBI Governor had stated in last MPC meet that proposal remains under examination
-Governor said both benefits and challenges are being evaluated
-BRBNMPL's global EOI is a preparatory procurement exercise
-Polymer notes likely to undergo pilot projects before any wider rollout
-No timeline announced for commercial introduction
What will be the challenges?
-Polymer notes cost more to manufacture than paper notes initially
-Currency printing infrastructure may require upgrades
-ATMs, cash recyclers and note sorting machines may need recalibration
-Dependence on limited global suppliers for specialized polymer substrate
-Recycling and disposal require dedicated processes
-Public familiarisation with different texture and handling characteristics may take time
-Higher initial investment before long-term savings materialise
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