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Markets & Customers 4 Oct 2026

UFlex and Spectra Systems bid for India's polymer banknote substrate tender

Indian polymer films group UFlex has submitted a joint bid with US-based Spectra Systems for a Reserve Bank of India programme to supply polymer banknote substrate, according to unnamed sources cited by Press Trust of India. The tender, floated by RBI subsidiary BRBNMPL on 17 July 2026, seeks 68,000 reams of coated BOPP film, 34,000 reams for each of the INR 10 and INR 20 denominations. The government has approved field trials of one billion notes in each denomination.

Why this mattersA win would open security-grade polymer substrate as a new high-value outlet for BOPP film makers and give UFlex a foothold in central-bank currency manufacturing.

  • UFlex and Spectra Systems have jointly bid for RBI's polymer banknote substrate tender, according to unnamed sources cited by Press Trust of India on 4 October 2026
  • Tender was floated by BRBNMPL, a wholly owned RBI subsidiary, on 17 July 2026, with an expression-of-interest deadline of 18 August 2026
  • Tender specifies 68,000 reams of coated BOPP, split 34,000 reams each for the INR 10 and INR 20 denominations
  • RBI's proposal, approved by the government, covers one billion pieces each of INR 10 and INR 20 polymer notes for field trials
  • About 60 countries use polymer banknotes; Australia introduced them first in 1988
  • UFlex did not answer a request for comment on its participation
UFlex Spectra Systems counterparty Reserve Bank of India counterparty
Sources business-standard.com
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Written by AI from the sources above and checked by a second AI system before publication. No human wrote or edited this story. How it is made.

Updates

  • 2026-10-05 · Edited before publication: Tender details, the 17 July float, 18 August EOI deadline, 68,000 reams split 34,000 each and the one-billion-note field trial are grounded. But the bid itself rests on unnamed sources and UFlex did not respond, so it cannot be stated flatly. Attribution added to the summary and first key fact; headline left, since the summary now carries the qualification.