Supplying security features for notes – few companies evince interest
The global tender which was issued by RBI inviting providing the security feature for currency notes back in July 2017 has seen bids coming from many reputed firms including Honeywell International and De La Rue India which has participated in bids for supply of security features for Indian banknotes to the Reserve Bank.
The RBI had issued the tender for different types of security threads, colour-shifting ink, foil patch having fluorescence and micro-text, various types of security fibres, advanced watermark, and micro perforation. The bids were opened on September 1. This is unique as well since the company which is winning the bid has to set up the manufacturing facility in India to support “Make In India” initiative and it has to be done within two years of signing the contract.
Papierfabrik Louisenthal GmbH, Uflex, Fedrigoni SpA, Krypten Research & Production, S Luminescence International, Leonhard Kurz Stiftung & Co KG, S Manipal Technologies, S De La Rue India, and Honeywell International Inc, are among the firms which have participated in the bid, RBI has announced today.
The local suppliers are exempted from experience and past performance criteria, and average annual turnover requirement. It is to be noted that post demonetisation where the old Rs.500 and Rs.1,000 were withdrawn, new notes in the denominations of Rs.50, Rs.200, Rs.500 and Rs.2,000 has been issued.