COPU 2LST

Deo said the Committee was not satisfied by the reasons
given by RBI for this decision.
"The reasons such as bad conditions of the notes and
soilage factor, etc. mentioned by the representatives of RBI
are far from convincing ... The Committee reject the reasons
that have been forwarded for this extraordinary decision which
is unprecedented," he said.
The Committee members felt the problem of soilage and
other damages to currency notes will always be there and this
does not warrant outsourcing printing of currency notes.
The panel also noted that the three chosen countries are
well developed and each certainly has the capability of
undertaking the entire printing assignment. "The very thought
of India's currency being printed in three different countries
is alarming to say the least," the report states.
It also enumerated the dangers of such an exercise.
"The danger of destabilising our security parameters
vis-a-vis printing of currency notes, the use of such notes
which could have been printed in excess could easily have
fallen in hands of unscrupulous elements such as terrorists,
extremists and other economic offenders looms large in our
minds," the report noted.
The Committee has expressed its "strong resentment" over
such an "unprecedented, unconventional and uncalled for
measure". PTI RC
MRD


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