As India awaits new Rs 500 notes, Bank Note Press runs out of security pigment
While the government and the RBI work to ensure adequate supply of new currency notes, the Bank Note Press in Dewas, Madhya Pradesh — one of the four dedicated facilities that prints currency notes in the country — on Wednesday issued a fresh tender inviting bids for supply of pigment Phthalocyanine Beta Blue, shifting of plant and machinery to a new ink factory, outsourcing of non-core activities relating to packing of ink and the supply of stationery items, The Indian Express has reported.
The Bank Note Press at Dewas is a unit of Security Printing and Minting Corporation of India Ltd (SPMCIL), which is a wholly-owned government company responsible for printing of all new currency notes in India.
The pigment Phthalocyanine Beta Blue is used in currency notes as part of anti-counterfeit measures.
Most infrared dyes are based on a modified phthalocyanine structure. These infrared dyes aid anti-counterfeit measures as both overt and covert deterrent features.
Prior to this tender, on October 19, SPMCIL had floated a tender for supply of 3,000 kg of the pigment Phthalocyanine Beta Blue.
Under the provisions of the Reserve Bank of India Act, 1934, the RBI has the sole right to issue bank notes of denominational value of Rs 2 and above. All bank notes are guaranteed by the Government of India and RBI is responsible for maintaining the quality of bank notes in circulation.