Free Press Journal

Shashi Tharoor seeks clarification from Union ministers Piyush Goyal and Arun Jaitley over RBI notes being printed in China

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Congress Leader Shashi Tharoor asked Union ministers Piyush Goyal and Arun Jaitley on Monday to answer whether Indian currency notes are being printed by a Chinese firm or not. Tharoor referred to a report published by Chinese daily South China Morning Post which stated that a Chinese firm could be printing India’s currency notes. “If true, this has disturbing national security implications. Not to mention making it easier for Pak to counterfeit. @PiyushGoyal @arunjaitley please clarify!” tweeted Shashi Tharoor.

International edition of South China Morning Post which consisted the report suggested that China Banknote Printing and Minting Corporation prints a portion of Indian currency. Mentioning the sources in the CPBMC, South China Morning Post also reported that there are money production plants across the country which are running at full capacity to meet the demands of government this year.

A statement from CBPMC chief Liu Guisheng was also mentioned in the reports where he says that the company is producing notes for India and many other countries. “China successfully won contracts for currency production projects in a number of countries including Thailand, Bangladesh, Sri Lanka, Malaysia, India, Brazil and Poland,” the report cites Liu as saying.


Given below is the exact text published in the South China Morning Post:

According to Liu Guisheng, president of the China Banknote Printing and Minting Corporation, China did not print foreign currency until recently.

Beijing launched the belt and road plan in 2013 the belt was a global development blueprint which involved about 60 countries from Asia, Europe to Africa to stimulate economic growth with large-scale capital investment and infrastructure construction projects.

After 2 years in 2015, China started printing 100-rupee notes for Nepal, Liu Guisheng wrote in an article in May.

Since then the company had “seized the opportunities brought by the initiative” and “successfully won contracts for currency production projects in a number of countries including Thailand, Bangladesh, Sri Lanka, Malaysia, India, Brazil and Poland,” Liu said.