Also read : Arvind Kejriwal and Shehla Masood : Targeting of RTI Activists Continues
Outsourcing of Currency Printing by Government : Height of Betrayal
The government , unbeknownst to anyone , had outsourced the printing of currency notes to US , UK and Germany – amounting to Rs 1 lakh crores !! The entire economic sovereignty of India was at stake !
The RBI had in 1997-98 outsourced printing of 2,000 million pieces of Rs 100 notes and 1,600 million pieces of Rs 500 notes to US , UK and Germany amounting to Rs 1 lakh crore . The committee , after questioning central bank officials , said the reasons provided were far from convincing .
RBI had said the soilage factor and bad condition of notes resulted in the decision . The panel observed that RBI ’ s system of assessment with respect to demands and supply of bank notes in the country was off the mark resulting in a gap . ( source )
The three companies to whom the Indian currency was outsourced were American Banknote Company ( USA ), Thomas De La Rue ( UK ) and Giesecke and Devrient Consortium ( Germany ).
On November 3 , 2011 a complaint was received by the Central Vigilance Commission ( CVC ) signed by “ unnamed officers of the Ministry of Finance ” – who said that the security was compromised not just by De La