China printing new Indian currency: Report

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China printing new Indian currency: Report
China printing new Indian currency: Report

Beijing : A report by South China Morning Post mentioned that China is printing currencies for the governments of several countries, including India, Nepal, Sri Lanka, Bangladesh, Malaysia and Brazil. 

The Chinese media report quoted a top official of the state-owned banknote printer.

Congress leader Shashi Tharoor brought the matter with a serious concern and asked Union ministers, Arun Jaitley and Piyush Goyal, to clarify.

Liu Guisheng, Chairman of China Banknote Printing and Minting Corporation, wrote in an article in May in China Finance, a bi-monthly journal run by China's central bank, that China obtained the first international commercial order for printing money from Nepal in 2015.

The state-owned firm won the bids of 100 rupees, 1,000 rupees and 5 rupees from Nepal, Liu said.

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, Brazil and Poland, Liu wrote.

The 'China Banknote Printing and Minting Corporation', headquartered in Beijing, describes itself as the world's largest money printer by scale. With more than 18,000 employees, it runs more than 10 strictly guarded facilities for the production of paper notes and coins, the paper said.