New Delhi, Nov 12: In the next two years, the government proposes to print 100 per cent of the currency notes in India. At the moment only 70 per cent of the notes are being printed in India, while the remaining abroad. India imports bank notes from the United Kingdom and France while the rest are printed in the country.
Officials say that the aim is to ensure that over the next two years, all notes will be produced in India. With regard to the new Rs 2,000 note, the official says this was printed only in India. However for the new Rs 500 note, paper had been imported the official also added.
It was the Prime Minister's Office that insisted the notes should all be printed in India. It was said that gradually over the next two years 100 per cent of the notes should be printed within the country itself.
The PMO felt that the reliance on getting the notes printed abroad should stopped.
When asked if this move to have all the notes printed within India had anything to do with security reasons, the officer answered in the negative.
We do not believe that those companies abroad providing us with the bank notes have compromised security. They have been in the business for long and would not indulge in such acts. There were two companies which were in fact under the scanner, but investigations did not reveal any flaws in their operation, the officer also added.