Polymer banknotes India moved a step closer after a consortium led by UFlex and US-based Spectra Systems reportedly submitted a bid to supply BOPP-based substrate for Indian currency notes. No supplier has been selected, and the bid is still under technical evaluation and testing, so it is not an awarded contract.
Bharatiya Reserve Bank Note Mudran Pvt Ltd (BRBNMPL), a wholly owned subsidiary of the Reserve Bank of India, is seeking biaxially oriented polypropylene (BOPP) polymer substrate sheets with specialised surface and security characteristics. Plastemart reported the development on 8 October 2026, citing BRBNMPL tender information, Business Standard, Press Trust of India, Government of India parliamentary information and RBI statements.
What Is the BRBNMPL Tender Looking For?
The tender calls for BOPP film with three features: an opacifying coating, an anti-static coating, and a surface suited to printing and ink adhesion. These properties matter because a polymer note must carry security printing reliably while staying durable in circulation. Polymer banknotes are already used fully or partly in around 60 countries.
Who Are UFlex and Spectra Systems in This Bid?
The two partners bring different strengths to the consortium. UFlex contributes polymer science, film manufacturing and industrial processing, while Spectra Systems brings currency authentication and security technology. Plastemart stresses that the current development should not be read as an award to UFlex.
Why Does This Matter for India’s Plastics and Packaging Industry?
Plastemart describes polymer substrate as a specialty market where value depends on precision, security, qualification, consistency and intellectual property rather than volume alone. For Indian film makers, a currency substrate would be a high-specification product very different from commodity packaging film. The source does not give any volume or contract value for the opportunity.
Market Reaction and Industry Response
The source article does not report any share-price movement for UFlex or comment from a trade body or competitor. Industrial Front did not find independent confirmation of the bid beyond the Plastemart report, which is why it is described here as reported.
What Happens Next?
The government has approved field trials involving one billion Rs 10 notes and one billion Rs 20 notes, according to the report. Wider issuance depends on the trial results. In the report’s words, the programme is being introduced on a trial basis before any decision on wider circulation. Watch for the outcome of the technical evaluation and any supplier selection by BRBNMPL.
Frequently Asked Questions
Has UFlex won the contract to supply polymer banknote substrate?
No. A consortium led by UFlex and Spectra Systems has reportedly bid, but no supplier has been selected. The bid is still under technical evaluation and testing.
What material would India’s polymer banknotes use?
The BRBNMPL requirement is for BOPP-based polymer substrate with an opacifying coating, an anti-static coating and a surface that accepts printing and ink adhesion.
How many polymer notes will be trialled in India?
The government approved field trials involving one billion Rs 10 notes and one billion Rs 20 notes. Any wider rollout will depend on how the trials perform.
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