Now, get gifts wrapped in waste currency strips!

Col V Raju, BRBNML general manager says: `There are no written rules laid down by the RBI for disposal of currency waste. We are only a subsidiary division of the RBI. We have our own rules for waste-management.’

Reminded that traditionally such waste is either shredded or burnt, to avoid likely misuse, Col Raju says: `It’s onlybecause we feel responsible that we take pains to destroy waste-currency strips.’ In other words, they are not obliged to. There are no rules to this effect.

The Currency Officer at RBI, Bangalore branch, J B Bhoria is equally matter-of-fact. `They are left over after the currency notes are printed. The notes which are printed on whole sheets of paper, have their edges cut and disposed of. They also carry the colour code and the security thread.’

It’s curious however, that the presence of the colour code in almost all these strips of does not alarm the authorities. In countries like America, the printing of these security threads in the dollar is altered every few years to check counterfeiting and its composition is a closely guarded secret. The most recently printed 20 and 50 dollar notes have the denomination of the bill printed on the thread along with some graphics. As part of the security measures, the thread in the new notes glows when held under ultra-violet light. In the $20 notes, the threadglows green, while a $50 note thread emits a yellow light. The thread in the $100 glows red.

To lessen the risks of counterfeiting, these threads are visible in transmitted light and not in reflected light, which makes them even more difficult to copy. As a further security measure, the thread in each note is so positioned as to guard against certain counterfeit techniques like bleaching the ink off the lower denomination and using the paper to `reprint’ notes of a higher denomination.

Despite the casual manner, the RBI official here acknowledges that there have been quite a few concerned citizens who have brought the matter of these strips being used as part of packaging, to his notice. `I have received similar strips before. There’s nothing to panic about. They are just harmless pieces of paper. Besides, the decision on how this waste material has to be destroyed, is left to the authorities at the printing press in Mysore.’ And that’s what’s called passing the buck.

Col Raju denies the fact that theyhave been supplying the currency wastes to packing companies as complained by some citizens.`We used to burn these wastes before. But some time back, the Pollution Board authorities raised an objection. They said the large-scale burning of paper was polluting the air in the surrounding areas,’ says Raju.

`We were left with no other option than giving these wastes to the nearest paper mills for recycling. They usually convert the paper back to pulp and reuse it,’ he adds.

Yet even bank authorities do not know what to do in such cases. When some people approached a few bank staff with these strips wanting to know whether they were forged notes, the reaction was diversely unconcerned: `We know nothing about this.’ `It doesn’t look like currency notes,’ they were told.