RBI Polymer Banknotes: Uflex & Spectra Systems Bid
By Business Desk
Discover how Uflex and Spectra Systems are bidding for the RBI polymer banknote tender to introduce durable substrates for Rs 10 and Rs 20 trial notes.
Homegrown polymer science company Uflex has partnered with US-based Spectra Systems to bid for the Reserve Bank of India polymer banknote program. The initiative aims to introduce polymer substrates for currency production as part of a modernization push.
Tender Specifications And Requirements
The procurement process is being overseen by the Bharatiya Reserve Bank Note Mudran Pvt Ltd. The tender requires specific quantities of substrate for initial denomination testing.
Key details of the ongoing procurement tender include:
The tender seeks Biaxially Oriented Polypropylene substrate.
The required volume totals 68,000 reams of substrate for the project.
The production is split evenly with 34,000 reams designated for Rs 10 banknotes.
Another 34,000 reams are allocated for Rs 20 denomination banknotes.
The government has previously approved field trials for one billion polymer banknotes across these two denominations.
Evaluation And Global Context
The Reserve Bank of India is evaluating potential suppliers through technical assessments focusing on security features, scalability, and manufacturing consistency. Around 60 countries worldwide currently utilize polymer currency technology.
During the initial rollout phase, these new polymer notes will circulate alongside existing paper-based banknotes. The procurement process remains in its preliminary stages as technical evaluations continue.