1. Finance Ministry rubbishes foul play in UK currency printing firm row

Finance Ministry rubbishes foul play in UK currency printing firm row

Ministry of Finance on Tuesday rubbished reports alleging breach of national interest by Union Government in collaborating with a tainted UK based note printing company.

By: | New Delhi | Updated: January 17, 2017 9:37 PM
arun jaitley, arun jaitley foul play allegations, uk note printing row, uk firm note printing row, uk note printing row, uk currency printing row The ministry, in a statement issued to media, said company’s contract was extended in 2013, under UPA regime. (Source: IE)

In a big statement, Ministry of Finance on Tuesday rubbished reports alleging breach of national interest by Union Government in collaborating with a tainted UK based note printing company.  The ministry, in a statement issued to media, said company’s contract was extended in 2013, under UPA regime. “There have been reports in sections of media stating that the Union Government has compromised the national interest by collaborating with tainted UK based Note Printing Company,” the release said. “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 banknotes till December 2015,” said the report.

The ministry clariefied that Narendra Modi Government, which came to helm in the year 2014, has only withheld previous government’s decision, and no fresh contract has been granted to it after 2014. “No fresh contract has been given to this company by the Government during the last three years,” said the release. “The Security Clearance for this company has been withheld by the Ministry of Finance, Government of India and hence no fresh orders have been placed with the said company since 2014,” it further stated.

The ministry revealed that company had also applied for setting-up a factory in India, upon which, no action has been taken by the government. “The company has applied for setting-up a factory in India. No action has been taken on their application,” said the release.

  1. Vasudeva Murthy
    Jan 17, 2017 at 11:28 pm
    Granted we give benefit of doubt that there was some left over mess to be cleared by Modi Govt. But does it explain the bungling by RBI officers in cashing on behind back? Why were the rules ignored and rich were given new notes behind doors and why no tracking done even after several people raising objections via media
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