Govt explores 3L km ‘color shift security thread’ for currency notes but with Pak-China disclaimer | Techno Glob


India wants a three lakh kilometer ‘color shift security thread’ to print its currency notes, but global contractors have stipulated that such work be barred from any operations with Pakistan and China, involving citizens of the two countries.

‘Colour Shift Security Thread’ is a key security feature that differentiates genuine currency notes from counterfeit notes. Government sources say that the source of all fake Indian currency is mainly Pakistan, with links to China in some cases.

A government document reviewed by News18 states that the supply works are like a fire-wall from Pakistan and China. “The product supplied to India should be exclusive and not supplied to other countries. Operations conducted in Pakistan or China, if any, shall be properly firewalled from agreements or operations with the Government of India,” the document clearly states.

It also says that employees who have previously worked or been posted in Pakistan or China, are Pakistani or Chinese nationals or have origins in the two countries will not be engaged by the company for the project. “Manufacturing facilities and transportation of raw materials should be adequately secured to prevent threats from anti-national elements,” it said.

In such contracts, either the supplier is located abroad or the product is manufactured in India under license from the foreign manufacturer who holds the intellectual property rights and cooperates with the technology. “If a company is found to be involved in acts prejudicial or prejudicial to India’s national security or interest, the contract will be terminated,” the document said.

The government document also states that the company will be obliged to inform the Government of India, Ministry of Finance, Department of Economic Affairs and Security Paper Mill about any change in the management control or ownership pattern of the company or the location of the company. During this deal, the company has approximately Rs. 106 crores.

Read all Latest India News here



Source link