Finance Minister Arun Jaitley Inaugurated the New Bank Note Paper Line at Security Paper Mill

[Hindustani78]

Ministry of Finance
01-June, 2015 19:29 IST
Finance Minister Arun Jaitley Inaugurated the New Bank Note Paper Line at Security Paper Mill, Hoshangabad and Flaged Off the First Consignment of Rs. 1000/- Bank Note Paper to Currency Note Press, Nashik At Hoshangabad on Last Saturday, 30th May, 2015;


FM: New Security Paper Mill in Hoshangabad will Give India Indigenously Produced Currency Note Paper and Will Prove to be a Major Step Towards Prime Minister Shri Narendra Modi’s ‘Make In India’ Initiative; FM:Two More Paper Lines of Total Capacity of 12,000 MT, Would be Set-Up at Security Paper Mill, Hoshangabad and a New Security Paper Mill Through JV Company Has Been Established At Mysore in Karnataka Ensuring Huge Savings on Foreign Exchange.


The Minister of Finance, Corporate Affairs and Information and Broadcasting Shri Arun Jaitley, inaugurated the New Bank Note Paper Line of 6000 MT capacity and also flagged off the first consignment of Rs. 1000 Bank Note paper made indigenously to Currency Note Press, Nashik at Security Paper Mill, Hoshangabad on last Saturday, 30.05.2015 in the august presence of Shri Shivraj Singh Chouhan, Chief Minister, Madhya Pradesh and other dignitaries.


Speaking on the occasion, the Finance Minister Shri Jaitley said that the New Security Paper Mill in Hoshangabad will give India indigenously produced Currency Note Paper and will prove to be a major step towards Prime Minister Shri Narendra Modi’s ‘Make in India’ initiative. He further said that the Mill would produce 6000 MT paper on which Currency Notes of denominations Rs. 10/-, Rs. 20/-, Rs. 50/-, Rs. 100/-, Rs. 500/- and Rs. 1000/- will be printed. Earlier, the paper to print high denomination currency was imported. The Finance Minister announced that two more paper lines of total capacity of 12,000 MT would be set-up at Security Paper Mill, Hoshangabad. He also said that a New Security Paper Mill through JV Company has been established at Mysore in Karnataka. The Finance Minister Shri Jaitley said that this would ensure huge savings on foreign exchange. The Finance Minister expressed happiness that beginning of Government's flagship programme 'Make In India' is being made in Madhya Pradesh, a State which has ceased to be a Bimaru (sick) State following various initiatives taken by Shri Shivraj Singh Chouhan, Chief Minister, Madhya Pradesh, in the recent past. The Finance Minister Shri Jaitley said Hoshangabad was chosen as the centre for producing paper for printing currency notes several decades ago by Shri Morarji Desai, who was the then Finance Minister. However, it produced paper for printing of currency notes of smaller denominations only. With the development of the new facilities at Hoshangabad and also at Mysore, it will be possible to produce Currency Printing Paper in adequate quantity to meet the needs of the nation. The Finance Minister also said that the Ink used in printing of the Bank Notes is mostly produced within India.


The foundation stone for this New Bank Note Paper Line was laid on 17.12.2011 by the then Finance Minister, Shri Pranab Mukherjee. The project has been completed at a cost of Rs. 495 crore within the budget and within the time schedule. This plant is environment friendly with minimal use of the power and water. No additional water has been taken for this plant from Narmada River. This is a start-of-the-art plant with capability for incorporation of the advanced security features into the Bank Note paper. This plant has been incorporated with the latest pulp manufacturing plant, control systems, equipped with automatic sheet cutter and packaging and has online inspection system. This plant is capable of manufacturing all denominations of Bank Note paper with capacity to introduce 3-dimentional toned water mark. The new plant has state of the art paper testing laboratory to the international standards for testing of the Bank Note Paper before dispatch to the Currency Note Presses. This New Paper Line is environment friendly aiming for zero liquid discharge. The latest surveillance system SAP-ERP and with state-of-the-art fire and safety system has been installed. This plant has a latest Mould Cover manufacturing facility for manufacture of the Bank Note paper with latest designs.


Security Printing and Minting Corporation of India Limited (SPMCIL), a Miniratna Category-I CPSE, is a wholly owned Schedule-A Company of Government of India. The Company was incorporated on 13.01.2006 and has nine Units engaged in minting of Coins, Printing of Bank Notes, Passports, Postal Stationery, Non-Judicial Stamp Papers, and other Security Documents & manufacture of Security Paper.


The performance of the Corporation in all spheres has improved significantly since corporatisation. SPMCIL has more than doubled the production of the Coins and Bank Notes while manpower has reduced by one third. SPMCIL has minted finely designed commemorative coins on various personalities and important events. It has introduced new security products like Excise labels, warehousing receipts etc. The turnover of the company has increased about three times during the last eight years. SPMCIL has been paying dividend @20% of the Net Profit continuously for the last four years. It has obtained EXCELLENT rating in its MoU performance for the last five years. It has paid back Rs. 1,110 crore loans of BRBNMPL and Ministry of Finance, invested about Rs. 1,540 crore from its own resources and created cash reserves of about Rs. 1,500 crore. It has carried out phase-I modernisation of Mints by introducing state-of-the-art coining machinery. One state-of-the-art Currency Printing line has been installed at Bank Note Press, Dewas. Modernisation and capacity expansion of Ink Factory at Dewas has been completed. SPMCIL today stands as the successful model of Corporatisation of the erstwhile Government Units.



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[Hindustani78]

The Union Minister for Finance, Corporate Affairs and Information & Broadcasting, Shri Arun Jaitley addressing a Conference on ‘Make in India – Indigenisation of Currency’, in New Delhi on June 02, 2015. The Minister of State for Finance, Shri Jayant Sinha, the Secretary, DIPP, Shri Amitabh Kant and other dignitaries are also seen.

The Minister of State for Finance, Shri Jayant Sinha addressing a Conference on ‘Make in India – Indigenisation of Currency’, in New Delhi on June 02, 2015.

 

[Manindra]

Now concentrate to develop security ink should be next logical step.

 

[Hindustani78]

Now concentrate to develop security ink should be next logical step.

Fake currency problem will be solved.

 

[Manindra]

Fake currency problem will be solved.

And save some foreign exchange too.

 

[cloud_9]

How about moving to plastic notes.

 

[Rau]

it takes more than 60 years to manufacture currency paper to us...

 

[Hindustani78]

Ministry of Finance
02-June, 2015 20:15 IST
Finance Minister: Underlines the need for Indigenisation of Paper, INK and Security Features of Indian Currency; Says that the Country has the Advantage of Cost Effective and Skilled Manpower, R & D Capacity and Adequate Power;

States that as a Part of the Make in India Policy of Government, Industrial Corridors are Being Created Across the Country to Create Employment Opportunities for the Youth; Exhorts the Domestic and International Manufactures to Utilize these Facilities and the Favourable Policies of the Government of India to Manufacture Currency and other Security Products in India.



The Union Finance Minister Shri Arun Jaitley underlined the need for indigenisation of paper, ink and security features of Indian currency. He mentioned that indigenization of the currency has been emphasized by the Prime Minister Shri Narendra Modi on a number of occasions. He mentioned that a beginning in this direction has been made by starting commercial production of higher denomination of bank note paper at SPM, Hoshangabad, which he had inaugurated only last week. The Finance Minister Shri Jaitley was speaking at the Conference on ‘Make in India – Indigenisation of Currency’ held in Vigyan Bhawan here today. The Conference was organised by the Department of Economic Affairs, Ministry of Finance, Government of India supported by Security Printing and Minting Corporation of India Limited (SPMCIL), Reserve Bank of India (RBI), Bhartiya Reserve Bank Note Mudran Private Limited and Bank Note Paper Mill India Pvt. Ltd. The Finance Minister Shri Arun Jaitley was the Chief Guest on the occasion while Shri Jayant Sinha, Minister of State (Finance) was Guest of Honour. The Conference was attended among others by about 250 delegates from India and abroad comprising of Scientific and R & D Institutions under CSIR, DRDO, CPPRI, IIT-Delhi, C-DIT, IISc and domestic and foreign manufacturers of currency and various security products and suppliers of raw materials.


Speaking further on the occasion, the Finance Minister Shri Jaitley mentioned that another banknote paper mill at Mysore is likely to come in for commercial production by end of this year. The combined production from these two projects, will meet the sizeable requirements of bank note paper in the country.


The Finance Minister Shri Jaitley further stated that the country has the advantage of cost effective and skilled manpower, R & D capacity and adequate power. He also mentioned that as a part of the Make in India policy of Government, industrial corridors are being created across the country to create employment opportunities for the youth. He exhorted the domestic and International manufactures to utilize these facilities and the favourable policies of the Government of India to manufacture currency and other security products in India.

Earlier speaking on the occasion, Shri Jayant Sinha, MoS (Finance) emphasized the need for innovation, design and manufacturing for the world markets. With the Make in India policy, Government has renewed its efforts to make indigenisation of currency a thrust area. With this objective, Government has constituted a Steering Committee under Dy. Governor, RBI to suggest steps for indigenisation of security features in currency, the objective being 50% of indigenisation within a next 3 years.

The programme was followed by the presentations from Reserve Bank of India (RBI), SPMCIL and BRBNMPL on scope and potential of indigenisation for raw materials for bank notes and security products.

This was followed by another session where presentations from R & D Institutions, National Chemical Laboratory Pune, C-DIT, Trivandrum and IIT Delhi, presenting R & D activities undertaken by them recently in this area. They also emphasized that the R & D institutions are working in development of security features in high-tech areas like Nano Technology, Optics, Holograms, information technology, inlays and packaging.

In the Open House, the queries from the delegates in respect of the policies and procurement procedure for indigenisation of currency were suitably replied and also noted for further action.


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[Prajapati]

Makes you wonder why Congress did not want a mill printing currency paper in India

 

[GR!FF!N]

we need Plastic Notes ASAP..

General mass is facing a massive problem now a days..even sometimes,Banks,Post Offices and ATMs are issuing fake notes,the case of Fake note is so severe..only way to tackle it is Plastic Note.

where is this one........

RBI to launch plastic notes next year: Raghuram Rajan - Livemint

1B Plastic Currency Notes Will Soon Circulate In 5 Indian Cities

if Pakistan planned this fake racket has a name,it is possibly largest counterfeiter Operation,even larger than Operation Bernhard..

 

[Hindustani78]

it takes more than 60 years to manufacture currency paper to us...

http://indianexpress.com/article/in...rms-on-radar-demonetisation-new-note-4422528/

Updated: December 12, 2016 8:07 am

While the consumption of currency paper over the last few years has been in the range of 25,000 tonnes annually, officials said that almost 18,000 tonnes are now manufactured at the Reserve Bank of India (RBI) presses (Representational image)


A HIGH-VOLUME limited tender is expected to be issued, possibly as early as next week, for the import of currency paper from a clutch of foreign firms to meet the requirement of the country’s four security printing presses following the demonetisation of Rs 500 and Rs 1,000 notes on November 8. Following a Finance Ministry meeting, chaired by Economic Affairs Secretary Shaktikanta Das on Saturday, officials told The Indian Express that the import order could be in the range of 20,000 tonnes, far higher than the approximately 8,000 tonnes imported over the current year.


“It will be a huge import order, which will take care of our printing projection for a year and beyond. But it is not a record order since India relied entirely on imported currency paper in the past. Now, we manufacture most of our currency paper ourselves,” said a senior official. While the consumption of currency paper over the last few years has been in the range of 25,000 tonnes annually, officials said that almost 18,000 tonnes are now manufactured at the Reserve Bank of India (RBI) presses. In the normal printing cycle, there would have been sufficient banknote paper stock until mid-2017. But the frantic pace of printing of replacement currency, following the demonetisation move, has hastened the decision to import.

The prospect of a new, large tender has led to a buzz in the highly competitive sector with the principals of at least two foreign security paper manufacturing firms currently visiting printing facilities in India. Several representatives of foreign firms told The Indian Express that they expected the orders to be split among a number of companies so that the price of imports is rationalised.

Officials of the Finance Ministry and Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) said that the order may be shared by around nine foreign firms who have obtained security clearance from the Home Ministry. They include Landquart from Switzerland, Komsco from South Korea; PWPW from Poland; Arjowiggins from France; Crane from Sweden; Goznak from Russia; PT Pura from Indonesia; Fabriano from Italy and Louisenthal from Germany.

At least six of these firms are current suppliers of currency paper to India while others may be included in the limited tendering process for the first time. In the past, British currency paper manufacturer De La Rue and Germany’s Louisenthal had been blacklisted by the Home Ministry on security considerations. Louisenthal has since obtained the clearance while De La Rue remains barred. Another company to recently obtain security clearance was Sicpa, the Swiss firm that supplies specialised currency paper inks to India. As The Indian Express first reported on December 1, the optically variable ink made by the company was imported in a hurry in the weeks following the demonetisation announcement.

 

[Hindustani78]

http://www.thehindu.com/news/nation...e-entry-to-demonetisation/article16969177.ece

Kochi December 31, 2016 14:16 IST
Updated: December 31, 2016 14:18 IST

Former Kerala Chief Minister Oommen Chandy on Saturday cast doubt on the re-emergence of a previously blacklisted British company, a currency printing major, in India around the time Prime Minister Narendra Modi launched the demonetisation drive.

Thomas de la Rue, one of the three foreign firms contracted by the Reserve Bank of India in 1997-98 to print 360 crore currency notes of Rs. 500 and Rs. 100 denominations with an aggregate value of Rs. 1 lakh crore, was reportedly blacklisted by the Union Home Ministry in 2011, he told the media, citing a set of documents including news reports.

In a report in 2012-13, the Public Undertakings Committee of Parliament — then headed by Congress’ Jagadambika Pal, who has since joined the BJP — expressed serious reservations about the RBI’s unprecedented move in 1997-98 to outsource currency printing to foreign firms, maintaining that it risked currency falling in the hands of “unscrupulous elements like terrorists, extremists and other economic offenders…”

“There is no mention of de la Rue’s activities in India in its annual reports of years 2013, 2014 and 2015, but its annual report of 2016 clearly mentions the India operations of de la Rue Cash Processing Solutions India Pvt Ltd and de la Rue India Pvt Ltd. In a recent interview to a journal, Martin Southerland, chief executive of de la Rue, says that the company has set up an office in Delhi and its senior management is working closely with the Union Department for Industrial Policy and Promotion (DIPP). He further speaks about its potential role in the ‘Make In India’ initiative. There’s also evidence to show that the company’s share value rose by 33.33 per cent after April 11, 2016,” Mr. Chandy said.

He also called into question the company’s involvement as one of the Platinum Partners in the India-U.K. Tech Summit held in Delhi in early November. In the wake of news reports suggesting that the RBI had selected a few foreign firms including de la Rue to print plastic currency notes of Rs. 10 denomination to bring liquidity to market, Union Minister of State for Finance Arjun Ram Meghwal informed the Parliament on December 9, 2016 that plastic currency printing had begun at a foreign firm.

“I would urge the Government of India to explain the nature of its close partnership with a company earlier blacklisted by the Union Home Ministry. Has the government taken any step to get plastic money printed by a foreign company sidestepping the PUC’s strong recommendation against the practice? If the government denies having any ties with the blacklisted firm, would it launch an investigation into the firm’s full-scale resurgence in India,” Mr. Chandy asked.

Urging the media to probe the issue further, he said it would be brought to the notice of the party’s central leadership.

 

[Hindustani78]

Ministry of Finance
17-January, 2017 20:45 IST
Ministry of Finance denies any collaboration with the tainted UK based Note Printing Company

There have been reports in sections of media stating that the Union Government has compromised the national interest by collaborating with a tainted UK based Note Printing Company.

The said company had been supplying bank note paper till 2010. Further as per the decision taken in 2013, the company was permitted to supply a security feature for bank notes till December 2015.

No fresh contract has been given to this company by the Government during the last three years. The Security Clearance for this company has been withheld by the Ministry of Finance, Government of India and hence no fresh orders have been placed with the said company since 2014. The company has applied for setting-up a factory in India. No action has been taken on their application.

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[Hindustani78]

A petty exchanger of Rupee notes waits for customers outside the Reserve Bank of India in Hyderabad on Tuesday. Photo: P.V.Sivakumar | Photo Credit: P_V_SIVAKUMAR

http://www.thehindu.com/business/Ec...r-RBI-press/article17089277.ece?homepage=true
BRBNMPL declined to reply to queries seeking information on the specific number of new ₹500 and ₹2,000 notes that had been printed and circulated.

Bharatiya Reserve Bank Note Mudran Private Ltd. (BRBNMPL) – a subsidiary of the Reserve Bank of India which prints banknotes – has said it has the capacity to print 16 billion pieces of currency notes per annum, when operating in two shifts and when the presses are operating at full capacity.

In reply to an RTI query filed by The Hindu, BRBNMPL said the new ₹500 notes are printed both by the government-owned Security Printing and Minting Corporation of India Ltd. and BRBNMPL while the ₹2,000 denomination bank notes are printed only at BRBNMPL.

“The capacity of printing presses of government of India is not available,” the RBI subsidiary said.

Following the demonetisation of ₹500 and ₹1,000 notes in November 2016, 22 billion pieces of currency notes were withdrawn from circulation – of which 15.7 billion were in ₹500 notes and 6.3 billion were of the ₹1,000 denomination. However, BRBNMPL declined to reply to queries seeking information on the specific number of new ₹500 and ₹2,000 notes that had been printed and circulated, as well as questions on the security features in the new notes citing Section 8 (1) a of the Right to Information Act, which allows information to be withheld if it “would prejudicially affect the sovereignty and integrity of India, the security, strategic, scientific or economic interests of the State.” BRBNMPL also sidestepped a question on whether the government or RBI plan to print currency notes outside the country and said, “Information not held by BRBNMPL.”

 

[Hindustani78]

The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley presented the awards, at the foundation day function of the Security Printing Minting Corporation of India Limited (SPMCIL), in New Delhi on February 17, 2017.

Currency Printing Presses:

Currency Note Press, Nashik Road and Bank Note Press, Dewas which are engaged in production of Bank Notes for our country as well as for foreign countries using state of the art technology. More than 40% of Currency Notes circulated in India are printed by these units. These units are equipped with designing, engraving, complete Pre-printing and Offset facilities, Intaglio Printing machines, Numbering & Finishing machines etc. Both the Currency Note Printing Presses are ISO 9001:2000 & ISO 14001:2004 certified units having fool-proof accounting of security items, stringent security systems with ultra-modern eco-friendly efficient treatment facilities and complemented by a service department to ensure maximum in-transit security. These units have captive railway treasury wagons / carriages for transporting the treasury consignments. These units have history of export of Bank Notes to countries like East Africa, Iraq, Nepal, Sri Lanka, Myanmar, Bhutan etc. The Bank Note Press Dewas also manufactures different types of security ink for various security organizations. Its annual installed capacity of Inks is about 240 MT. BNP manufactured Quickset Intaglio Inks departmentally for use on Super Orlof Intaglio printing machines.