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9
December 2016
Soon, plastic currency notes will be
printed in India. The procurement process for the required material has already
been initiated, Parliament was informed on Friday.
"It has been decided to print bank
notes based on plastic/polymer substrate. The process of procurement has been
initiated," Minister of State for Finance Arjun Ram Meghwal said in a
written reply in the Lok Sabha. The
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Meghwal said that on December 11, 2015
it was informed by the Reserve Bank of India that they received some Rs 1,000
denomination without the security thread.
These notes were printed at the Currency
Note Press at Nashik in Maharashtra on paper supplied by Security Paper Mill
(SPM), Hoshangabad, the minister said.
An enquiry was initiated by the Security
Printing and Minting Corp of India Ltd (SPMCIL) and the units involved, SPM and
Currency Note Press. The Total Investment
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"Major penalty chargesheet has been
issued to personnel concerned. Disciplinary proceedings have been
initiated," he said. The Total Investment
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"Action has been taken to
strengthen quality procedure and online inspection system in manufacturing
process. A new Standard Operating Procedure (SOP) has been prepared and
implemented," he added.
Special training has been given to
concerned persons to avoid such mistakes in future and additional inspections
have been introduced to ensure defect-free production, Meghwal said.The Total Investment & Insurance
Solutions
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