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Letters
Risk of printing notes by foreign agencies
ActIT Jammu, ASP.net Projects, Java, Vb.net, C# Training Jammu
Dear Editor,

There are reports that Indian currency notes and coins are got printed/minted by foreign agencies which are reportedly black listed. After the demonetization of old currency notes of Rs. 1000 and 500 denomination new notes of Rs. 2000 and 500 have been introduced by the Reserve Bank of India (RBI). Immediately thereafter, there have been reports that fake currency notes of Rs. 2000 denomination have also come in the market. Moreover, against Rs. 10 coins, fake coins are in abundance crept into the market. Reports are also appearing in the news media that shopkeepers and the banks are refusing to accept ten rupee coins fearing fakeness thereof. The country has its own security printing presses and minting organizations.

It is not understandable as to why the government prefer to get the currency notes/coins printed/minted from the foreign agencies. If the country’s own printing/minting organizations are not able to meet the growing needs of currency notes/coins, the government of India should upgrade the same to meet the growing domestic need of the country. In good olden days there was no fake currency notes or coins heard of.

Perhaps, because of getting printed/minted Indian currency notes/coins from the foreign agencies the fake currency system has emerged with alarming dimensions. The practice of preferring foreign agencies may also be against the spire “Make-in-India” or “Standup India” as propagated by the NDA regime which has not so far having yield the desired results some economists say as for the news media reports.

—Krishan Singh

Talab Tillo, Jammu


News Updated at : Wednesday, April 19, 2017
 
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