India is taking its first formal step towards introducing , with the RBI’s currency printing subsidiary inviting global bids for specialized plastic substrate sheets. Initially, **₹10 and ₹20 notes** are expected for a pilot rollout, aimed at improving durability and combating .
₹4,875 crore
Note Printing Cost (FY26)
FY25: ₹6,372.8 crore→₹4,875 crore
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How today’s news fits into the bigger picture
2007
RBI first proposes polymer banknotes
The Reserve Bank of India initially floated the idea of introducing polymer currency notes, recognizing concerns about the durability of existing paper notes.
2014
Pilot project for ₹10 polymer notes in 5 cities
The RBI conducted a limited pilot in Jaipur, Shimla, Bhubaneswar, Mysuru, and Kochi to test the viability and public acceptance of ₹10 polymer notes.
2016
Government informs Parliament on procurement
The Indian government stated in Parliament that the process for procuring polymer notes had been initiated, indicating ongoing internal discussions and preparations.
May 2026
RBI Governor hints at polymer note consideration
RBI Governor Sanjay Malhotra mentioned that the central bank was actively examining the pros and cons of introducing , indicating a renewed interest.
July 17, 2026
BRBNMPL issues global EoI for polymer substrate
Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) issued a global Expression of Interest, formally initiating the procurement process for polymer banknote material.
Today
RBI's currency printing arm floats a global tender for polymer banknote substrate sheets.
What happens next?
A pilot rollout of ₹10 and ₹20 polymer notes is expected to begin in India from 2027, with a wider national implementation dependent on the success of these trials.
The Reserve Bank of India (RBI) is moving closer to introducing polymer banknotes in the country. On July 17-18, 2026, Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), the RBI's currency printing subsidiary, floated a global Expression of Interest (EoI) for the supply of opacified polymer substrate sheets embedded with security features. This marks India's first formal procurement step towards replacing traditional cotton-pulp paper currency. The initial pilot is expected to focus on **₹10 and ₹20 denominations**, which suffer high wear and tear. The shift aims to improve durability, cleanliness, and enhance anti-counterfeiting measures, as polymer notes can last 2.5 to 5 times longer than paper. Bids for the material are due by **August 18, 2026**.
💭 If you're wondering…
Polymer banknotes are more durable, lasting much longer in circulation, and are resistant to moisture and dirt. They also allow for more advanced security features, making them significantly harder to counterfeit compared to traditional paper notes.
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