Uflex-Spectra enters race for proposed polymer banknote programme
The programme was initiated by Bharatiya Reserve Bank Note Mudran Pvt Ltd (BRBNMPL), a wholly-owned subsidiary of the Reserve Bank of India
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The programme was initiated by Bharatiya Reserve Bank Note Mudran Pvt Ltd (BRBNMPL), a wholly-owned subsidiary of the Reserve Bank of India
RBI to issue polymer notes in addition to existing paper-substrate banknotes; procurement process in early stages
One billion banknotes to be issued for field trials; paper currency to continue alongside if rollout succeeds
The decision is being contemplated because polymer notes have a longer shelf life and are less expensive to produce than traditional paper money