Indian firm bags contract to print 430 million units of Rs 1,000 bill

KATHMANDU: Nepal Rastra Bank (NRB) has awarded a contract to print 430 million units of Rs 1,000 bill to an Indian firm.

The central bank has decided to award the contract to Security Printing and Minting Corporation of India Ltd – a Government of India undertaking.

The NRB issued a letter of intent to the Indian firm on Wednesday. “This is to notify you that, it is our intention to award the contract for execution of the Procurement of Designing, Printing, Supply and Delivery of 430 million pieces of Nepalese rupees 1,000 Denomination Circulation Banknote to you as your bid of USD 11,134,506, as corrected and modified in accordance with the instructions of bidders is herby selected as substantially responsive lowest bid,” the NRB said in the letter of intent.

Casa da Moeda do Brasil of Brazil, China Banknote Printing and Minting Corporation of China, and Oberthur Fiduciaire SAS of France had also participated in the bidding.