The currency printing machine from Switzerland

November 13 2016

Albeit the black money in Swiss bank has not been routed back to India by Modi government however a company of Switzerland De La Rue Giori through KBA Giori supplied necessary components. The high value Rs 2,000 notes to replace Rs 1,000 notes to flush out black money were largely printed at the printing press of Indian Reserve Bank in Mysuru under utmost secrecy while the paper on which the printing was done came from Italy, Germany and London.
From the month of August to September around 480 million currency denomination of Rs 2000 and Rs 500 currency have been printed. To strengthen the financial status of India and to curb the influx of fake currency form Pakistan, including the hawala money used in terrorism, Modi has taken such big decision.
The sources reveal that the government will soon print currency notes of Rs50 and Rs100. But the current notes will remain functioning. This is why Switzerland’s company KBA Giori has been assigned this indispensable task to help in establishing currency printing machine in Dewas in Madhya Pradesh, Nasik in Maharashtra, and Midnapur and Solboni in West Bengal . As of now Mysore press alone prints 70 per cent of the requirement.

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