The government is doing this to protect the currency from counterfeiting.
Most of the currency notes of India are copied in Pakistan.
In some cases, the link of Pakistan with China has also been found.
New Delhi. India needs 3 lakh kilometer ‘colour shift security thread’ to print its currency notes. For this, important instructions have been given to the global contractors. It has been said that people of Pakistan and China should not be involved in such work and the whole work should be done without the knowledge of these two countries.
The ‘Color Shift Security Thread’ is a key security that ensures the authenticity of a currency note and differentiates it from counterfeit notes. Which we call the silver wire inside the note in colloquial language. Government sources say that the source of all counterfeit Indian notes is mainly Pakistan, which in some cases has links to China.
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The product that India gets should be exclusive
A government document reviewed by News18 states that the entire supply work should be protected in such a way that there is no access to Pakistan and China. The document clearly states, “Products supplied to India must be exclusive and should not be supplied to any other countries. Even if any kind of work happens in Pakistan or China, it should be completely safe under the contract made with the Indian government.
It is also clear in this document that any company that will do this work cannot hire such employees who have any connection with Pakistan and China. Such people cannot be employed if they have previously worked in any of these countries, or are Pakistani or Chinese citizens. The production facilities and transportation of raw materials also need to be adequately secured to prevent piracy and threats from anti-national elements.
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then the contract can be terminated
“If any company is found to be indulging in acts prejudicial to or prejudicial to the national security or interest of India, the contract may be terminated,” the document said.
In such contracts, either the supplier is foreign or the product is being manufactured in India, then it is under the license of a foreign manufacturer, who holds the intellectual property rights and performs a technical collaboration. The government document also clarified that the company is required to notify the Government of India, Ministry of Finance, Department of Economic Affairs and Security Paper Mill whenever there is a change in the management control or ownership pattern of the company or the location of the company.
Tags: business news, Business news in hindi, Currency, Indian currency
FIRST PUBLISHED : November 02, 2022, 12:53 IST