RBI's currency arm seeks global bids for polymer banknote material

RBI's currency printing arm, BRBNMPL, has floated a global tender for polymer substrate to print new banknotes, likely in Rs 10 and Rs 20 denominations. The tender invites bids for 68,000 reams with strict national security conditions.

Global Tender for Polymer Banknotes

Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), the currency-printing subsidiary of the Reserve Bank of India, has floated a Global Expression of Interest (EOI) inviting manufacturers worldwide to supply opacified polymer substrate sheets embedded with security features for printing Indian banknotes.

Tender Specifications and Security Features

The EOI, released on Friday, seeks an indicative quantity of 68,000 reams of BOPP (Biaxially Oriented Polypropylene)-based polymer substrate, 34,000 reams each for two denominations, with each ream comprising 500 sheets. The material must carry security features such as a clear window with portrait, metallic numeral, magnetic pseudo thread, shadow image and iridescent pattern, suitable for printing at BRBNMPL and SPMCIL presses. Sources in the know say that the polymer notes are likely to be in the lower denominations of Rs 10 and 20 in the starting phase. The ink used to print the notes is also specially made based on security requirements.

Strict National Security Riders

Notably, the EOI carries strict national-security riders: bidders must ensure their operations in China or Pakistan are firewalled from any India-linked business, must not source raw material from either country, and must not engage personnel who have worked in China or Pakistan in any capacity. Entities from countries sharing a land border with India must be registered with the DPIIT's Registration Committee to be eligible.

Bidder Qualifications and Future Scope

BRBNMPL said the current requirement is only an immediate one, and a larger procurement across multiple denominations is likely to follow in subsequent tenders once field trials of the substrate prove successful. Bidders, domestic or global, including technology collaborators, joint venture partners or subsidiaries, must have at least three years' experience supplying polymer substrate with security features to a central bank or banknote/security printing organisation, and must offer a minimum of 20,400 reams (30 per cent of the indicative quantity) to qualify.

Applicants are also required to submit at least 10 sample polymer sheets for laboratory testing, certified free of animal tallow or DNA content, along with proof of financial net worth, manufacturing capacity and security clearance eligibility.

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