India Initiates Global Procurement for Polymer Banknote Substrate
India has taken another significant step towards the possible introduction of polymer banknotes with Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) issuing a Global Expression of Interest (EOI) on July, 17 2026 for the manufacture and supply of opacified polymer substrate sheets with advanced security features. The initiative is aimed at identifying experienced domestic and international manufacturers capable of producing high-security polymer substrates suitable for printing Indian banknotes. While this does not confirm the immediate introduction of polymer currency, it demonstrates that the groundwork for its adoption is now progressing in a structured manner. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) is a wholly owned subsidiary of the Reserve Bank of India and is under the ownership of the Ministry of Finance, Government of India. Established in 1995 to augment the country's banknote printing capacity, BRBNMPL is responsible for the production ...