India, which is among the five largest economies of the world, is still toying with the idea of introducing plastic currency, three decades after Australia put in place a full series of its denominations and as many as 60 nations use such currency in some form.

Early this month, the Reserve Bank of India’s (RBI) currency printing subsidiary invited global Expressions of Interest (EoI) for supplying polymer substrates with embedded security features, signalling its most concrete step towards implementation since the original 2009 proposal.