Is China printing India currency? Rubbish says government

New Delhi, Aug 14: The Centre has termed as baseless, reports claiming that China is printing currencies for India and other countries. A report by the South China Morning Post said that China is printing currencies for several nations including Nepal, Malaysia, Sri Lanka, Malaysia and Brazil.

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.

Subash Chandra Garg, Secretary, Department of Economic Affairs, said, "Reports about any Chinese currency printing corporation getting any orders for printing Indian currency notes are totally baseless. Indian currency notes are being and will be printed only in Indian Government and RBI currency presses."

According to the Chinese media reports, the state-owned firm won the bids of 100 rupees, 1,000 rupees and 5 rupees from Nepal, Liu said.

The 'China Banknote Printing and Minting Corporation' confirmed that money production plants across the country were running at near full capacity to meet an unusually high quota set by the government this year, Hong Kong-based South China Morning Post reported.

It said that most of the demand comes from participants in the 'Belt and Road Initiative' (BRI).