The Reserve Bank of India is moving ahead with plans for polymer currency in India. The move aims to counter counterfeit-note networks and cross-border economic threats. RBI has placed national security at the centre of its new global tender. Consequently, vendors linked directly or indirectly with China or Pakistan face exclusion. The tender also seeks polymer substrate sheets with built-in security features.
Companies Enter The Global Tender Race
Indian and foreign companies have submitted bids for polymer substrate sheets. BRBNMPL issued the global Expression of Interest with an August 18 deadline. At least two foreign polymer currency makers joined the bidding process. UK-based De La Rue also entered through a partnership with an Indian substrate maker. The tender requires firms to complete several security-related agreements.
China And Pakistan Links Face A Firewall
Bidders must sign an Integrity Pact, Confidentiality Contract and No-Agent Pact. They also need to submit an undertaking covering operational separation. Companies must keep their Indian operations separate from facilities operating in China and Pakistan. Furthermore, bidders must certify that supplied polymer substrate contains no animal tallow or tallow DNA. The reference links this condition with earlier disputes involving animal fat in banknotes.
BRBNMPL Seeks Nearly 68,000 Reams
BRBNMPL has described the requirement as urgent in its EOI documents. The company seeks around 68,000 reams of polymer substrate for Indian currency printing. Each ream must contain 500 polymer-film sheets. Bidders must also provide samples alongside their offers. Officials will test those samples across different climatic zones. Qualifying suppliers can then apply for the final BRBNMPL tender. A corrigendum clarified that bidders need not prove financial strength during this qualifying stage.
De La Rue Finds An Indian Technical Partner
Cosmo First has also entered the polymer substrate EOI race. The company ranks among India’s largest BOPP exporters. It also supplies De La Rue, a major currency manufacturer. The UK-headquartered company describes itself as the world’s largest banknote supplier. De La Rue says polymer options offer cleaner, greener, safer and more durable currency. Industry sources say Cosmo First named De La Rue its technical partner. The partner would provide security features according to BRBNMPL requirements.
Australia’s CCL Secure Joins The Race
Australia-based CCL Secure has also submitted a bid. The company ranks among major polymer banknote suppliers globally. CCL Secure currently supplies polymer solutions to 40 central banks. Its technology includes several features designed to prevent counterfeit notes. The company claims its banknotes last six times longer than cotton-based currency paper. Its website also describes combined solutions using polymer and traditional cotton-pulp currency paper.
Vietnamese Firm Makes Its Move
Vietnam previously imported polymer substrate from CCL Secure. Three years ago, Q&T High-Tech Polymer Company Limited began domestic banknote supply. The Hanoi-based private company claims its product delivers 78 percent lifecycle savings. Now, the firm is expanding beyond Vietnam. Industry sources say Q&T also submitted a bid for BRBNMPL’s EOI.
The reference indicates that RBI may initially consider polymer ₹10 and ₹20 notes. Meanwhile, the tender process places strong emphasis on security and supplier eligibility. The proposed currency plan therefore combines polymer technology with strict supply-chain conditions.
