Saturday, 12 August 2017

Quality Of Notes With in 'Tolerance' Parameters: RBI

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Under attack from Congress for discrepancies in printing of currency notes post demonetisation, the RBI today said it is following the best global practice and quality of notes are within "tolerance parameters".

The central bank further said the currency printing presses are equipped with state-of-the-art machinery, documented systems and technically qualified personnel through which quality control is ensured at each stage of banknote production.

"The process and system followed for production of Indian banknotes are at par with the best practices adopted globally. In line with the same, banknote quality is maintained well within the various tolerance parameters for dimension, placement of design, print features etc," the RBI said in a statement.

The central bank's statement assumes significance, as it comes days after the Congress party on August 8 alleged that two different kinds of Rs 500 and Rs 2,000 notes were printed post demonetisation, "jeopardising the credibility" of Indian currency.

The opposition party had also said the "discrepancies" in the printing of the new high denomination notes were in terms of their size, design and other features.

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