Uflex and Spectra Systems Bid for RBI Polymer Banknote Supply
Uflex, an Indian company, and US-based Spectra Systems have submitted bids to supply plastic film for the Reserve Bank of India's (RBI) polymer banknote trial. The RBI's subsidiary, Bharatiya Reserve Bank Note Mudran Pvt Ltd, is seeking a plastic film that can hold printing ink effectively. The film must include a colored coating and an anti-static layer to ensure the print adheres properly.
The tender, issued on 17 July 2026, requested 68,000 reams of film, split evenly between Rs 10 and Rs 20 notes. Uflex brings expertise in polymer manufacturing, while Spectra Systems contributes knowledge in banknote authentication and security technology. The deadline for submissions was 18 August 2026.
In a Lok Sabha reply on 27 July 2026, Minister of State for Finance Pankaj Chaudhary confirmed that the RBI had proposed introducing one billion pieces each of Rs 10 and Rs 20 polymer notes for field trials. The government has approved this proposal, although RBI Governor Sanjay Malhotra noted in June that the plan was still at a preliminary stage.
Around 60 countries already use polymer notes, with Australia being the first to adopt them in 1988. Other users include the UK, Canada, New Zealand, Singapore, Vietnam, and Romania. The RBI is expected to test material samples before making any larger purchases, with checks covering security features, manufacturing consistency, scalability, and long-term supply.