RBI Governor Sanjay Malhotra Says Polymer Notes Pilot to Guide Scale-up Decision

This is still a pilot. We will test and check how they perform in Indian conditions, climate and other infrastructure that we have put in place, he said, adding that a scale-up decision will follow the pilot's results. The polymer notes, made of plastic, will feature advanced security elements such as see-through windows, micro-optic holograms, and specialized inks to resist counterfeiting.

RBI is focusing on lower denominations like ₹10 and ₹20, which circulate more frequently and have shorter lifespans; polymer can extend their life by three to four times compared to paper, Malhotra noted. Around 60 countries, including Australia, Canada, the UK, and Singapore, already use polymer notes. On July 17, RBI's currency arm Bharatiya Reserve Bank Note Mudran issued a global expression of interest for manufacturers to supply polymer substrate sheets, with bids open until August 18, 2026. The initial requirement is about 68,000 reams of biaxially oriented polypropylene-based substrate, each containing 500 sheets, with security features including a clear window with a portrait, metallic numeral, magnetic pseudo-thread, shadow image, and iridescent pattern.