RBI's currency printing arm invites global bids for polymer banknote substrate
By Shailesh Yadav, Mumbai, July 17
Bharatiya Reserve Bank Note Mudran Private Limited, the currency-printing subsidiary of the Reserve Bank of India, has floated a Global Expression of Interest inviting manufacturers worldwide to supply opacified polymer substrate sheets embedded with security features for printing Indian banknotes.
The EOI, released on Friday, seeks an indicative quantity of 68,000 reams of BOPP (Biaxially Oriented Polypropylene)-based polymer substrate, 34,000 reams each for two denominations, with each ream comprising 500 sheets.
The material must carry security features such as a clear window with portrait, metallic numeral, magnetic pseudo thread, shadow image and iridescent pattern, suitable for printing at BRBNMPL and SPMCIL presses.
Sources in the know say that the polymer notes are likely to be in the lower denominations of Rs 10 and 20 in the starting phase. The ink used to print the notes is also specially made based on security requirements.
Notably, the EOI carries strict national-security riders: bidders must ensure their operations in China or Pakistan are firewalled from any India-linked business, must not source raw material from either country, and must not engage personnel who have worked in China or Pakistan in any capacity.
Entities from countries sharing a land border with India must be registered with the DPIIT's Registration Committee to be eligible.
BRBNMPL said the current requirement is only an immediate one, and a larger procurement across multiple denominations is likely to follow in subsequent tenders once field trials of the substrate prove successful.
Bidders, domestic or global, including technology collaborators, joint venture partners or subsidiaries, must have at least three years' experience supplying polymer substrate with security features to a central bank or banknote/security printing organisation, and must offer a minimum of 20,400 reams (30 per cent of the indicative quantity) to qualify.
Applicants are also required to submit at least 10 sample polymer sheets for laboratory testing, certified free of animal tallow or DNA content, along with proof of financial net worth, manufacturing capacity and security clearance eligibility.
— ANI
Reader Comments
Good to see RBI taking security seriously with the ban on sourcing from China and Pakistan. Given our geopolitical tensions, it's a smart move. But I worry about the cost—polymer notes are more expensive initially. Will we recover that through longer life? Also, 68,000 reams for two denominations seems like a small trial. Let's hope the Indian printing presses can handle the new tech.
As an Indian, I'm proud RBI is moving towards more secure currency. Polymer notes are common in countries like Australia and Canada already. But the EOI requirement that bidders must have supplied to a central bank for three years is very stringent. Many new innovative startups might be left out. Still, safety first. The national security rider is a welcome addition. 🇮🇳
I just hope these notes don't become sticky or melt in Indian summers like some other countries experienced. Also, the no-animal-tallow requirement is good for our vegetarian population. But 20,400 reams minimum is a huge commitment—only big players like De La Rue or G+D will qualify. Why not involve Indian companies like SPMCIL more directly? We need self-reliance in currency printing too.
This is a great initiative! I've used polymer notes in the UK, and they're much cleaner and don't tear easily. The magnetic pseudo thread and iridescent pattern will make forging very tough. But why only Rs 10 and 20? Higher denominations like Rs 100 or 200 are more often counterfeited. Maybe after field trials they'll expand. Also, the DPIIT registration requirement for land-border countries is a smart filter.
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