India to get plastic notes soon: Why the move is important - explained

RBI has been permitted to print 2 billion polymer notes, one billion each of Rs 10 and Rs 20, for field trials.

RBI's currency printing arm, Bharatiya Reserve Bank Note Mudran Pvt Ltd (BRBNMPL), has floated a tender for polymer substrate sheets with embedded security features.

The tender includes strict security conditions: suppliers need government clearance, restrictions on China and Pakistan-linked operations, and prior experience supplying polymer banknote substrates to central banks.

India has discarded around Rs 50 trillion worth of soiled notes in the last decade, and spends Rs 5,000 crore annually on security features.

Polymer notes offer benefits such as enhanced security, lowered counterfeit risk, lower lifetime cost, and a lower carbon footprint.