Big Currency Change Ahead? India's New Tender Has Everyone Talking

India has taken another step towards introducing durable polymer banknotes , with a government-owned currency printing company inviting global suppliers to provide the specialised material required for manufacturing the new notes.

Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) issued an international tender on July 17 seeking 68,000 reams of biaxially oriented polypropylene (BOPP) sheets , a key material used to produce polymer banknotes. The move has revived discussions about India's long-pending plan to replace some low-denomination paper currency with stronger and more secure polymer notes .

Unlike conventional paper currency, polymer banknotes are made from a durable plastic substrate that is resistant to water, dirt, moisture and frequent handling. They generally last several times longer than paper notes, reducing replacement costs over time despite their higher initial production expense.

Polymer notes also allow the incorporation of advanced security features , including transparent windows, iridescent patterns and complex anti-counterfeiting elements , making them significantly harder to forge.

More than 40 countries , including Australia, Canada, the United Kingdom and New Zealand, have already adopted polymer currency because of its durability and enhanced security.

The tender comes with strict sourcing conditions , prohibiting materials originating from China or Pakistan , reflecting India's procurement and security guidelines.

Although social media speculation suggests that ₹10 and ₹20 polymer notes featuring Mahatma Gandhi could be introduced on a pilot basis by 2027 , no official announcement has been made regarding the design, denominations or rollout timeline.

India had previously explored polymer banknotes through limited regional trials, but the initiative did not move forward. The latest procurement process, however, indicates that the country is once again actively evaluating the transition, especially as the cost of replacing heavily circulated low-value paper notes continues to rise.

If implemented, polymer banknotes could mark one of the biggest changes to India's currency system in recent years , offering longer-lasting notes with improved security while lowering replacement costs over their lifetime.