Why RBI is betting on plastic in a UPI economy
India, Aug. 18 -- The Reserve Bank of India's (RBI) latest currency experiment may seem counterintuitive at first glance in an economy rapidly digitising on the back of real-time payment rails. The central bank, through its printing arm Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), has floated a Global Expression of Interest for 68,000 reams of polymer substrate, with 34,000 reams earmarked for Rs 10 notes and another 34,000 reams for Rs 20 notes. This global tender has been the central bank's most decisive move yet in a long-debated pilot rollout of plastic banknotes. This may seem like an over-engineered solution to a problem that digital payments already solve, but on the surface, it's not an unthinkable move for market...
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