Plastic Banknotes

Homegrown polymer science firm Uflex, in partnership with the US-based Spectra Systems, has submitted bids for the proposed polymer banknote programme as the RBI evaluates potential suppliers to manufacture polymer-based currency substrate, sources said. The programme was initiated by Bharatiya Reserve Bank Note Mudran Pvt Ltd (BRBNMPL), a wholly-owned subsidiary of the Reserve Bank of India (RBI). As per the tender document, it seeks Biaxially Oriented Polypropylene (BOPP), coated uniformly with opacifying ink to the required colour, along with an anti-static coating, to provide a good surface for printing and ink adhesion. It requires 68,000 reams, 34,000 each for Rs 10 and 20 denominations. Polymer (plastic) currency is used fully or partially by around 60 countries. Australia was the first to introduce it in 1988. Other major nations that use polymer banknotes include the United Kingdom, Canada, New Zealand, Singapore, Vietnam, and Romania. The tender was floated on July 17, w

The government has approved the introduction of one billion polymer banknotes of Rs 10 and Rs 20 for field trials, Parliament was informed on Tuesday. The Reserve Bank of India (RBI), with the recommendation of its central board, had sent a proposal to the government in terms of Section 25 of the Reserve Bank of India Act, 1934, for introduction of one billion pieces each of Rs 10 and Rs 20 polymer banknotes for field trials and for regular issuance of polymer banknotes in these two denominations after successful completion of field trials, Finance Minister said in a written reply to the Rajya Sabha. "The proposal has been approved by the government. As per the RBI, these polymer banknotes are proposed to be issued along with paper substrate-based banknotes," she said. The RBI has informed that the procurement process is presently at an initial stage, she said. Therefore, she said, at this point of time, it would not be possible to practicably determine the exact timeframe for ...

The central bank will issue 1 billion each of ₹10 and ₹20 polymer banknotes for field trials before taking a call on their regular issuance

The move marks India's first formal procurement step towards polymer banknotes, though the Reserve Bank of India has not announced denominations or a timeline for their introduction

RBI Governor says the central bank is assessing the merits and challenges of polymer banknotes even as cash usage and currency circulation continue to grow

From retrospective taxation and quality reforms to polymer notes, exam glitches and middle-class stress, today's opinion pages examine key policy challenges

Polymer notes are made of a thin plastic substrate that is more resistant to moisture, dirt and tearing

Rs 10 notes to be tested in 5 places, amid complaints of fake Rs 500 and Rs 2,000 notes