RBI moves closer to plastic currency notes, seeks bids for polymer banknote material
- The RBI has moved closer to introducing low-denomination polymer banknotes, with Indian and foreign firms bidding to supply security-enabled polymer sheets.
- RBI subsidiary BRBNMPL has an immediate requirement for around 68,000 reams of polymer substrate, with each ream containing 500 sheets.
- Bidders must certify that the polymer substrate contains no animal tallow or its DNA, amid concerns over animal-derived material in banknotes.
- Companies must also keep their India operations firewalled from operations in China and Pakistan under security and confidentiality requirements.
Source: indianexpress.com
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