What to do with scrapped notes? RBI seeks NID help

Sources close to the development said that more recently, the RBI had approached NID for creating a security design motif for the new notes of Rs 500 and Rs 2,000

By: Express News Service | Ahmedabad | Updated: April 20, 2017 8:35 am
demonetised notes, demonetisation, rbi demonetised notes, scrapped notes, RBI, india news, indian express news NID has received close to 200 kg of shredded currency

The Reserve Bank of India (RBI) has approached the National Institute of Design-Ahmedabad to come up with innovative ideas by suitably recycling shredded currency notes, including demonetised notes of Rs 500 and Rs 1,000 to make usable products. The NID will flag off a nation-wide design competition for college students to scout for ideas for the same.

Close to 200 kg of this shredded currency, also called ‘briquettes’ have arrived at the NID for this purpose and a team headed by NID director Pradyumna Vyas and Pravinsinh Solanki — an NID faculty of furniture and interior design discipline, have been working on the concept.

The duo has already created four-five products, including a sheet that can be used on table-top, a clock, a paper weight etc from the briquettes and will now look for “out-of-the-box” ideas from youths. “The NID… was asked by the RBI last month to see what can be done with the shredded notes which also include demonetised currency notes. The RBI’s brief to us was to look into that what can be done with the notes and what can be the right use. The shredded currency sent to us by the RBI also includes damaged and soiled notes of other denominations as well as the demonetised currency. We want to experiment with the ‘briquettes’ and come up with some products. We have plans to flag off a national level design competition to scout ideas from students on what can be done with them soon,” said Vyas.

Sources close to the development said that more recently, the RBI had approached NID for creating a security design motif for the new notes of Rs 500 and Rs 2,000 and that the NID has previously worked in designing of coins that are currently part of the currency system. “We were asked to develop something and have created a few products, but we want to ask students to come up with out-of-box ideas. Soon we will form a team, including NID students and faculty members,who will also handle few nitty-gritty of the competition. The only specification would be that the visibility of notes be intact, that it could be useful to humans and have value,” said Solanki.

For all the latest India News, download Indian Express App

  1. S
    Sanjay Gohil
    Apr 21, 2017 at 8:29 am
    200 kg is a wrong figure....it must be 200 Tonne...
    1. C
      Apr 20, 2017 at 9:42 pm
      Make sticks and shove it up the behind of black money ders, corrupt officials and politicians, and press utes from Indian Express, TOI, NDTV, etc.
      1. P
        Pradeep Phadke
        Apr 20, 2017 at 12:51 pm
        Here's a suggestion. Make a solid gl monument of the size of say 1 mn cubic feet in which the old demonetized currency is embedded.This monument could then be open to tourists who can be asked to pay an entry fee. Thus over a period of time the cost of making the monument will not only be recovered but it will generate recurring revenues.Such monuments (not for currency notes though) are in existence in many countries where WW1 and WW2 heritage items are show cased.
        1. Lalit Das
          Apr 20, 2017 at 12:46 pm
          How many ton is available. Print the Consitution of India and other such do ents. It is quality paper.
          1. R
            Apr 20, 2017 at 12:21 pm
            Let us wait for the next great leap when all currency will be withdrawn ,Indians made begged and India transformed from digital to nude India.
            1. Load More Comments