Eight foreign firms listed for supply of note paper

December 25, 2016 16:18

The remonetisation drive -- and the frantic printing of banknotes -- has brought some Christmas cheer for some of the worlds largest currency paper suppliers.

Principals of eight foreign firms were in Bengaluru to finalise bids for contracts of 27,500 metric tonnes of paper for lower denomination currency notes to be supplied to India from April-December 2017.

The contracts have been finalised for printing currency notes mostly of Rs 10, Rs 20, Rs 50 and Rs 100 denominations, giving a clear signal that the Rs 2,000 and Rs 500 notes would be printed on banknote paper manufactured in India.

Some of the largest companies trading in banknote paper from Germany, Switzerland and Italy figure in the list of successful bidders, but the British banknote giant, De La Rue, was conspicuous by its absence. De La Rue had been supplying huge quantities of currency paper to India for decades, but in 2010-11 lost its security clearance after failing to meet some security parameters.

« Back to LIVE

TOP STORIES

'Aaj batting tera Jassi bhai karega'

Jasprit Bumrah was seen practicing some shots in the nets ahead of MI's clash against DC.

What's Nirmalaji Queueing For?

Celebs and commoners cast their votes in the second phase of the Lok Sabha election on Friday, April 26, 2024

Is Salman Planning To Move Out Of Mumbai?

'With his safety in the city being jeopardised, Bhai is looking at moving to his farmhouse in Panvel permanently.'

Arms, ammunition found in CBI raid in Bengal's Sandeshkhali

The CBI during its probe got inputs of a large cache of arms hidden in Sandeshkhali. On Friday morning, a CBI team started a search operation during which the arms, including foreign-made pistols, were seized, the officials said.

Kotak Mahindra Bank's loan, deposit growth may be impacted after RBI curbs

Kotak Mahindra Bank's loan and deposit growth are likely to be affected after the Reserve Bank of India (RBI) asked the private-sector lender not to take on board new customers through the bank's online and mobile banking channels and...