Host of firms bid to supply security features for notes

New Delhi: A host of foreign and domestic firms, including Honeywell International and De La Rue India, have participated in bids for supply of security features for Indian banknotes to the Reserve Bank.

RBI had issued global tender for procurement of currency security features for currency notes in July.

It 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.

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 said on Monday.

The bids were opened on September 1, it added.

In a push to 'Make in India' initiative, the tender document for security features specified that successful bidders 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 planned manner from the third year.

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

Post demonetisation of November 2016, RBI had introduced Rs 2,000 notes and new look Rs 500 notes with advance security features.

The central bank has also come out with a new Rs 200 note besides a different looking Rs 50 note.