India Advances Polymer Banknote Plans with Global Supplier Bids

Companies reported to have submitted bids to supply sheets with advanced security features for India’s polymer banknote trial include CCL Secure (Australia), Cosmo First in partnership with De La Rue, and Q&T Hi-Tech Polymer from Vietnam (partnering with India-based Pigment Allied)Pigments & Allieds). Spectra Systems, in partnership with India-based Uflex, also participated in the bid for its Fusion™ halal- and vegan-certified polymer.

Bharatiya Reserve Bank Note Mudran (BRBNMPL), a wholly owned subsidiary of the Reserve Bank of India (RBI), recently issued a global Expression of Interest for the manufacture and supply of polymer substrates. The bid deadline was 18 August 2026. Supplies are planned for both BRBNMPL and the presses of Security Printing and Minting Corporation of India Ltd (SPMCIL).