- May 31, 2022
- Posted by: OptimizeIAS Team
- Category: DPN Topics
While the volume of notes printed in FY22 was 41 per cent more than that of FY09, the cost of printing in this period surged 141% according to the RBI report.
- New notes post demonetisation- rise in quantity of printing cost and cost of faster transportation of new notes.
|Till 2013-14, the cost of printing notes came under the head ‘security printing charges’ (primarily for printing of currency notes). In the following year, it was renamed as ‘printing of notes’.
Indigenisation of currency printing –The RBI aims to frame a strategy for complete indigenisation of raw materials for banknote production.
Example- The annual report for FY14 highlights that Colour Shift Intaglio Ink (CSII), a security feature used in banknotes, is not imported any more. It is now
indigenously manufactured at Varnika, the ink manufacturing unit at Bharatiya Reserve Bank Note Mudran Pvt. Ltd (BRBNMPL), Mysuru, which meets the requirements of both BRBNMPL and SPMCIL (Security Printing & Minting Corporation of India Ltd).
Optically variable ink (OVI) also called color shifting ink is an anti-counterfeiting measure used on many major modern banknotes, as well as on other official documents (professional licenses, for example).
The ink displays two distinct colors depending on the angle the bill is viewed at. OVI is particularly useful as an anti-counterfeiting measure as it is not widely available, and it is used on security printing. Color-shifting inks reflect various wavelengths in white light differently, depending on the angle of incidence to the surface. An unaided eye will observe this effect as a change of color while the viewing angle is changed. A color copier or scanner can copy a document only at one fixed angle relative to the document’s surface. It uses finely powdered pearlescent glitter.
Optically variable magnetic ink (other ink type)
Optically variable magnetic ink (OVMI), also called SPARK, has visual effects that are based on the magnetic properties of the ink. When the document is tilted, movement of a bright light stripe occurs and the colour changes. It is usually applied by screen printing. This type of ink is used for the Euro, Brazilian real, and Russian ruble banknotes