Money & Banking

No contracts to tainted UK currency printing co since 2014: FinMin

Our Bureau New Delhi | Updated on January 12, 2018 Published on January 17, 2017

BL18_04_URJIT

The Finance Ministry clarified on Tuesday that no fresh contract has been given to the UK-based currency printing company De La Rue by the government during the last three years.

The Ministry was reacting to media reports that stated that the government has compromised national interest by collaborating with a tainted UK-based note printing company.

“The said company had been supplying bank note paper till 2010. Further as per the decision taken in 2013, the company was permitted to supply a security feature for bank notes till December 2015,” the Ministry said in a statement.

“No fresh contract has been given to this company by the government during the last three years.

“The Security Clearance for this company has been withheld by the Ministry of Finance and hence no fresh orders have been placed with the said company since 2014,” the statement added.

‘No action’

It also said that while the company has applied for setting up a factory in India but the government has not taken any action on their application.

Published on January 17, 2017
This article is closed for comments.
Please Email the Editor