UK firm De La Rue refutes allegations over printing banknotes in India

LONDON: A UK-headquartered banknote manufacturer today refuted as "defamatory and malicious" allegations that it was involved in printing new Indian currency notes and warned of "appropriate steps" to protect its reputation.

Richard Hird, the chief commercial officer of the firm, said the firm will take "appropriate steps" in India to protect its reputation.

"De La Rue categorically refutes the defamatory and malicious allegations about its business published in Indian media," Hird said in a statement here.

The statement followed allegations from Aam Aadmi Party yesterday that De La Rue was printing currency for the Indian government at Mysuru Reserve Bank Press and that it was blacklisted under the previous UPA government.

"De La Rue is not supplying paper for printing of Indian currency and we are not associated with printing of currency in India at present in any form. De La Rue has received no notice nor are we aware that we are blacklisted in India," Hird said.

"De La Rue does not supply currency paper and is not printing currency for Pakistan and would never supply currency paper manufactured for one country to another," he added.

Describing De La Rue as the world's leading commercial banknote printer supporting 140 countries, which is listed on the London Stock Exchange, Hird said: "The company is a founder member of the Banknote Ethics Initiative and operates to the highest ethical standards. De La Rue will take appropriate steps in India to protect its reputation as the trusted currency printer around the world."