中文India is preparing to test polymer banknotes at scale, with the Reserve Bank of India (RBI) evaluating biaxially oriented polypropylene (BOPP) as a more durable alternative to conventional paper currency. The government has approved field trials covering one billion INR 10 notes and one billion INR 20 notes — a substantial real-world pilot rather than a symbolic exercise.
Crucially, the trials will not trigger an immediate replacement of existing paper notes. If adopted, polymer banknotes are expected to circulate alongside conventional currency, letting the RBI assess durability and public acceptance without disrupting the monetary system. The choice of the INR 10 and INR 20 denominations is deliberate: these change hands most frequently and are therefore most exposed to soiling, tearing and early withdrawal from circulation.
Bharatiya Reserve Bank Note Mudran (BRBNMPL), the RBI’s wholly owned printing subsidiary, has invited bids for 68,000 reams of polymer substrate, split equally between the two denominations. The tender specifies BOPP as the base material, with coatings suitable for printing and ink adhesion, plus support for the security features banknotes demand. Submitted substrates will undergo technical evaluation covering durability, print performance, security characteristics and fitness for Indian conditions.
The bidding field is international and revealing. UFlex has submitted a bid with US-based Spectra Systems, pairing polymer and flexible-film manufacturing with banknote authentication expertise. Australia’s CCL Secure, Vietnam’s Q&T Hi-Tech Polymer and India’s Cosmo First have also entered, with Cosmo partnering with UK banknote specialist De La Rue. CCL Secure already supplies polymer substrate to central banks worldwide, while Q&T has developed banknote-grade polymer technology and supplied Vietnam’s polymer currency — a useful proof point for the format’s maturity.
The substrate in question is not ordinary plastic film. The RBI seeks an opacified BOPP-based material capable of supporting high-quality printing, reliable ink adhesion and security elements including transparent windows and anti-counterfeiting features. That combination is the hard part of polymer currency: it must feel familiar, print cleanly, resist counterfeiting and survive years of folding and handling.
Durability is the headline benefit. RBI governor Sanjay Malhotra has said polymer notes can last three to four times longer than paper currency, which would sharply reduce replacement frequency for the most heavily circulated denominations and, over time, cut production and logistics cost. For a country with a vast cash economy, even modest per-note longevity gains translate into meaningful savings.
The programme also opens a specialised application for India’s polymer, film and security-technology sectors. Successful domestic supply would shorten lead times, retain value within the country and build capability relevant to security printing broadly. The immediate test, however, is whether BOPP-based polymer currency can deliver the required blend of durability, printability and security for everyday use.
The RBI is targeting introduction of polymer banknotes from FY28, contingent on the outcome of field trials and further evaluation. For packaging and converting suppliers, the initiative is a reminder that high-performance substrates once reserved for industrial film are migrating into exacting, security-critical applications — and that India’s material-science base is increasingly central to national infrastructure.
Source: The Packman (thepackman.in), article “RBI to field-test BOPP Polymer notes in INR 10 and INR 20 denominations,” published 6 October 2026.
If the trials succeed, India would join a small club of economies using polymer currency at scale, following paths pioneered in Australia, Canada and parts of Asia. The procurement’s emphasis on supply-chain security and domestic raw-material sourcing also hints at a longer-term ambition: to build sovereign capability in security-grade substrates rather than depend on imported polymer film for a critical national function.
For the converting and films sector, the initiative is a reminder that high-performance substrates once reserved for industrial packaging are migrating into exacting, security-critical applications. A successful domestic supply chain would shorten lead times, retain value within the country and build capability relevant to security printing broadly. The immediate test, however, remains whether BOPP-based polymer currency can deliver the required blend of durability, printability and anti-counterfeiting for everyday circulation.
Durability is the headline benefit and the real test. Governor Malhotra’s estimate that polymer notes last three to four times longer than paper would sharply reduce replacement frequency for the most heavily circulated denominations. But public acceptance, handling feel and security performance in everyday Indian conditions will ultimately decide whether the FY28 target becomes reality.
The tender’s scale alone signals intent. Sixty-eight thousand reams across two denominations is not a token pilot but a serious industrial procurement, and the roster of global bidders confirms that polymer currency technology is mature and contestable. Whether India ultimately commits, the exercise already validates a domestic capability conversation that did not exist a few years ago.
