4 min learnNew DelhiUp to date: Aug 31, 2026 10:04 AM IST
Transferring a step nearer to the introduction of low-denomination plastic banknotes within the nation, Indian and overseas corporations have bid for the availability of polymer substrate sheets with inbuilt security measures.
Responding to the worldwide Expression of Curiosity (EOI) issued by Reserve Bank of India subsidiary Bharatiya Reserve Financial institution Notice Mudran (P) Ltd (BRBNMPL), which set an August 18 deadline, at the very least two overseas polymer foreign money producers and an Indian substrate producer in partnership with UK banknote producer De La Rue have positioned their bids, The Indian Specific has learnt.
Given the sensitivity of future provides of polymer banknotes, the businesses have been made to fill an integrity pact; a confidentiality contract; a no-agent pact and an enterprise that they may firewall their operations in India from these they could have in China and Pakistan.
The bidders have additionally needed to certify that their polymer substrate won’t include any animal tallow content material or its DNA for provides to the BRBNMPL. Controversies over the presence of animal tallow in banknotes in nations just like the UK is claimed to be one of many causes for the RBI’s hesitation over the introduction of polymer foreign money in India.
In its EOI paperwork, the BRBNMPL has underlined an “fast” requirement and indicated an approximate requirement for 68,000 reams of polymer substrate for printing Indian banknotes. Every ream ought to encompass 500 sheets of polymer movie with samples to be supplied with the bids.
The samples might be examined in varied climatic zones and people discovered eligible might be allowed to use for the ultimate BRBNMPL tender. In a corrigendum revealed earlier than the deadline, the BRBNMPL clarified that bidders weren’t required to supply proof of their monetary standing at this “qualifying” stage.
It’s learnt that within the working for the polymer substrate EOI is Cosmo First, the most important Indian exporter of BOPP (biaxially oriented polypropylene) and a significant provider to De la Rue. The world’s largest banknote provider, the UK-headquartered De La Rue claims to have helped a number of nations make the transition to the polymer possibility which it says is cleaner, greener, safer and sturdy.
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These within the know say Cosmo First has listed the foreign money main as its “technical accomplice’’ which can present security measures in its polymer substrate as required by BRBNMPL.
The opposite overseas main which is learnt to have bid is Australia-based CCL Safe, one other pioneer in polymer banknote provides. CCL Safe presently provides polymer options to 40 central banks. It flags options to stop counterfeiting and claims that the banknotes final six instances longer than cotton-based foreign money paper.
The CCL Safe web site states it provides options to nations to make use of a mixture of polymer based mostly and standard foreign money paper sourced from cotton pulp. That is what the RBI is claimed to be presently proposing for India, with polymer banknotes being launched initially in Rs 10 and Rs 20 denominations.
Vietnam was among the many nations importing polymer substrate from CCL Safe, however three years in the past a personal Hanoi-based firm, Q&T Hello-tech Polymer Firm Restricted, started supplying financial institution notes domestically, sustaining there’s a 78% lifecycle financial savings over cotton paper foreign money. The corporate is increasing its footprint out of Vietnam and, based on trade sources, has additionally bid for the BRBNMPL EOI.
