Author Topic: RBI Floats Tender for New Security Features for Banknotes  (Read 781 times)

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Offline Bimat

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RBI Floats Tender for New Security Features for Banknotes
« on: July 18, 2017, 05:58:24 AM »
MAKE IN INDIA FOR CURRENCY SECURITY

Tuesday, 18 July 2017 | PNS | New Delhi

The ‘Make-in-India’ initiative launched by the Government of India to encourage national, as well as multinational companies to manufacture their products in India has received big support from the Reserve Bank of India also as it came out with a fresh tender for currency security features, mandating that the supplier set up the manufacturing unit in the country within two years and gradually increase the local content.

The RBI cancelled two tenders issued earlier for supply of security features and fibre for currency notes in order to incorporate ‘Make in India’ as an essential requirement. The bid is for supply of different types of security threads, colour-shifting ink, foil patch, security fibre, paper-based taggant, ink based taggant, advanced watermark and micro perforation.

“The bidder may note that their acceptance of ‘Make in India’...is a mandatory requirement for considering the bidder eligible,” the RBI said while inviting pre-qualification bids for supply of security features for Indian banknotes.

As per the latest tender document for security features for banknotes, the successful bidder will be required to set up the “manufacturing facility” in India within two years from the date of signing of contract and increase the local content in a planned manner from the third year.

It will also have to increase the domestic value addition to 35 per cent in the third year, 40 per cent in the fourth year and 50 per cent or more in the fifth year.

“The bidder may set up his manufacturing unit in India through a subsidiary or under licence or through transfer of technology to any local manufacturer permitted by the purchaser,” said the pre-qualification bid document.

The local suppliers are exempted from experience and past performance criteria, and average annual turnover requirement.

Further, the document said, operations of the bidder in Pakistan or China, if any, “should be suitably firewalled from the contract/operations with India”.

Bidder will have to give undertaking that no Pakistani national or person of Pakistani origin would be engaged by the company for the project. Also, the company should not post an employee who worked in India operations in Pakistan or China.

Source: Daily Pioneer
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Online Figleaf

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Re: RBI Floats Tender for New Security Features for Banknotes
« Reply #1 on: July 24, 2017, 02:36:58 PM »
The requirements on transfer of technology will cost money and will not be effective. Something similar has been tried in the car industry. Bidders included old technology and technology that would soon be replaced, saddling the buyer with higher cost for something that was already or very quickly turned worthless. In all honesty, since security technology is the heart of the banknote printing industry, does the Indian government really expect a company to commit suicide by selling its core technology for a one-time order?

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline Bimat

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RBI Floats Tender for New Security Features for Banknotes
« Reply #2 on: July 24, 2017, 05:08:49 PM »
I don't know why RBI/government is so adamant on using Indian technology for security features for banknotes. The sad fact is that our printing presses are simply not capable of developing advanced security features for our banknotes. Police have seized thousands of counterfeit notes of new ₹500 and ₹2000 notes post demonetization from various parts of the country (these notes did not have any additional security features anyway, they were exactly same as previous series). It thus makes sense to get them printed from some foreign printing press and minimize/delay the possibility of forgeries...

By the way, government recently informed parliament that after demonetization, RBI so far has detected fake banknotes (old ₹500 and ₹1000) worth ₹110 million. Yes, you read it right. After demonetizing currency worth ₹15.44 TRILLION, they found fake notes worth ₹110 million! Which also proves that amount of fake currency in circulation is being exaggerated...

Aditya
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Offline Bimat

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RBI Floats Tender for New Security Features for Banknotes
« Reply #3 on: December 30, 2018, 07:29:46 AM »
RBI exploring mobile phone-based solution to help visually impaired identify banknotes

By PTI
Updated: Sun, Dec 30, 2018
11:44 am
New Delhi, PTI

The Reserve Bank is looking at a mobile phone-based solution to help visually impaired people easily identify Indian currency notes.

Currently, intaglio printing-based identification marks are present in banknotes of Rs 100 and above for helping the visually challenged identify them. At present, banknotes of Rs 10, 20, 50, 100, 200, 500 and 2000 are in circulation.

There are about 80 lakh blind or visually impaired people in the country, who are likely to benefit from the initiative of the central bank.

In June, 2018 the Reserve Bank had announced that it will explore the feasibility of developing a suitable device or mechanism for aiding the visually impaired in the identification of Indian banknotes.

In line with that, the RBI has now invited expression of interest from vendors for developing a 'mechanism/device' for Identification of denomination of Indian banknotes.

The device/mechanism should be able to identify the denomination of a banknote with hand held operation, when the banknote is held in front of it/near it/inserted in it/ scrolled across it, within a few seconds (preferably 2 seconds or less) and read out in English/Hindi the denomination, said the tender document.

In case of software based solution, the document said: "The solution can be either totally software based capable to run on mobile phones or hardware driven or a combination of both... ."

Also, it should not require data connection and should function in offline mode, as per the document.

In case of hardware base solution, the device "should be battery operated, rechargeable, small and handy" for ease of operation and should not require additional light source including day light.

The tender document also said it should be amply made clear to the user that the device/mechanism does not authenticate the genuineness or otherwise of the banknote and the user may ascertain the same separately.

India has changed its over four-decade-old definition of blindness, bringing it in line with the WHO criteria.

According to the new definition, a person who is unable to count fingers from a distance of three metres would be considered "blind" as against the earlier stipulation of six metres, which was adopted in 1976.

Going by the new definition, the population of blind people in India will reduce from 1.20 crore (as per National Blindness survey 2007 data) to 80 lakh.

Source: ZeeBiz
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.