Is blacklisted company indeed supplying papers for new currency notes?


Finance Minister Arun Jaitley on Thursday rejected Aam Aadmi party’s (AAP) charges of giving contract for printing of new Rs 500 and Rs 2,000 notes to a blacklisted company, saying his ministry has no dealing with the British company named in the “false” social media campaign.

“Another false campaign on the social media by the AAP. Ministry of Finance has no dealings with the British Company named in this campaign,” Jaitley said in a tweet.

Delhi Chief Minister and AAP national convener Arvind Kejriwal retweeted a tweet of @AamAadmiParty, which said, “Biggest currency printing order of Independent India has been given by Modi Govt to a blacklisted Co.”

Earlier AAPExpress tweeted that “According to reports Delarue has been hired to print the new 500 2000 notes”.

“It is shocking to note that the company Delarue was mentioned in the blacklist of Panama list,” it added.

In response to an RTI request filed recently, the RBI too denied that it had outsourced the printing jobs to a third party.

The RTI reply said, “Banknotes are printed by four currency note printing presses. Two of the currency note printing presses are owned by the government of India and two are owned by the Reserve Bank, through its wholly owned subsidiary, the Bharatiya Reserve Bank Note Mudran Ltd(BRBNMPL)…. No separate contract has been awarded to print Rs 2,000 banknote to any company/organization.”

From the RBI’s RTI reply, it’s clear that the central government has not outsourced the job to print new Rs 2,000 or Rs 500 notes to a third party.

But AAP’s Dilip Pandey tweeted a screenshot of the BRBNMPL website , which states that “machinery at Mysore Site has been supplied by M/s. De La Rue Giori, now KBA Giori, Switzerland and that of Salboni by M/s. Komori Corporation, Japan.”

According to the BRBNMPL website, while the technology may have been provided by De La Rue Giori, now KBA Giori, the company has no involvement in printing the new banknotes.

But AAP, in its latest press release, alleged that De La Rue, was blacklisted by the RBI in February 2011 following a CBI probe against the company in 2010-11.

The AAP press release said, “De La Rue was also investigated by United Kingdom’s Serious Fraud Office and it was found that the company’s employees had falsified specification test certificates for some of its clients. The company also finds mention in the Panama Papers for its alleged involvement in a money laundering scheme.
“The Papers also revealed that De La Rue had paid a hefty commission to a New Delhi-based businessman to ensure that the company got the RBI’s contracts. De La Rue has proudly proclaimed itself to be the supplier for the Reserve Bank of India, and a partner of Narendra Modi’s “Make In India” policy. The company was officially black-listed by the Reserve Bank for its fraudulent activities in February, 2011, however all records of the blacklisting appear to have now been pulled down from the website.”
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