360° Coverage : Indian companies vying to print cheque books for Ethiopia

4 Updates
Indian companies vying to print cheque books for Ethiopia
Photo Credit: PIUS UTOMI EKPEI, Getty Images

Indian companies vying to print cheque books for Ethiopia

Jul 16 2013, 2:08am CDT | by

Addis Ababa, July 16 (IANS) Three Indian companies are in contention to print first ever standardized cheques of the National Bank of Ethiopia (NBE). The companies are Shree Nidhi Secure Printing Plc (SNSP), Madras Security Printers Plc (MSP) and Manipal Group, according to sources at the NBE.

Addis Ababa, July 16 — Three Indian companies are in contention to print first ever standardized cheques of the National Bank of Ethiopia (NBE). The companies are Shree Nidhi Secure Printing Plc (...

Filed under: news

 
 
 

1 year ago

Indian companies vying to print cheque books for Ethiopia

Jul 16 2013, 2:08am CDT | by

Addis Ababa, July 16 (IANS) Three Indian companies are in contention to print first ever standardized cheques of the National Bank of Ethiopia (NBE). The companies are Shree Nidhi Secure Printing Plc (SNSP), Madras Security Printers Plc (MSP) and Manipal Group, according to sources at the NBE.

Addis Ababa, July 16 — Three Indian companies are in contention to print first ever standardized cheques of the National Bank of Ethiopia (NBE). The companies are Shree Nidhi Secure Printing Plc (SNSP), Madras Security Printers Plc (MSP) and Manipal Group, according to sources at the NBE.

In a bid to avoid forgery and expedite cheque clearing and settlement, the NBE, along with Ethiopian Bankers' Association (EBA), made a decision to standardize all cheques from banks across the country. This will be marked by the inclusion of security features that are hard to replicate and a technology solution, called Magnetic Ink Character Recognition (MICR).

The NBE had floated a selective tender in May 2013. It was aimed at selecting and approving authorized MICR cheque printing companies, which Ethiopian banks could use, the sources said.

Established in 1994, SNSP specializes in manufacturing printing cheque books, variable data printing, security printing printers and binders. On the other hand, MSP, which was founded 25 years ago, is involved in smartcard and security printing activities for the banking sector as well as revenue authorities.

The companies' cheques are already standardized in India. The Reserve Bank of India (RBI) had previously given all banks a deadline of January 2012 to standardize cheques. This was according to a benchmark that required a standard quality of paper, watermark, invisible bank logo and other security features.

Proposals from the companies will be evaluated by a bid committee starting this week. The committee includes the property and services management and clearing and settlement department heads of the NBE, along with advisers from commercial banks.

The evaluation process will include preliminary technical evaluation of mandatory requirements, a non-technical evaluation, reference site and financial evaluation. Once a proposal passes the technical evaluations, it will be given marks out of a hundred, based on non-technical evaluation. This will make up 40 percent of the grade, with financial evaluations making up the other 60 percent.

If the winners are one of those companies, they are expected to print 231,513 corporate cheque books with 50 leaves each, 154,345 cheque books with 100 leaves each and 21,198 and 12,050 personal cheque books with 25 and 50 leaves each, respectively.

Seven companies had participated in the tender by the extended bid closing date of July 9, 2013. Two participants, Ethiopian Trade Contract (ET-CON), known in the financial sector for providing note and coin counting machines from Sweden and Sudan Currency Printing Press (SCPP), were disqualified.

However, TALL Security Print Plc, a UK company known for business cheques, credit and secure encoded documents, and provides electronic payment solutions to financial institutions. De La Rue Security Print, specialized in manufacturing and producing banknotes along with commercial security printing and papermaking, is still in the competition.

(Hadra Ahmed can be contacted at ahmed@yahoo.com)

--Indo-Asian News Servicve

ha/srj/ky/tb

IANS

Source: IANS

 
Update
4

7 weeks ago

South Sudan: Kiir Withdraws Peace Talks Team

Nov 3 2014 6:53am CST | Source: AllAfrica.com

[Sudan Tribune]Juba -South Sudan's president, Salva Kiir, has recalled the government delegation currently taking part in negotiations in Ethiopia with the country's armed opposition group under the leadership of former vice-president Riek Machar, accusing the latter of seeking a military solution to the more ...
Source: AllAfrica.com   Full article at: AllAfrica.com
 

 
Update
3

7 weeks ago

South Africa: Ethiopians Dominate Soweto Marathon

Nov 3 2014 1:23am CST | Source: AllAfrica.com

[CAJ News]Ethiopia athletes have dominated the just-ended 42km Nike Soweto Marathon strongly contested in Johannesburg, South ...
Source: AllAfrica.com   Full article at: AllAfrica.com
 

 
Update
2

7 weeks ago

East Africa: Ethiopia Withdraws From Hosting CECAFA

Nov 1 2014 1:52am CDT | Source: AllAfrica.com

[Capital FM]Nairobi -Ethiopia has withdrawn from hosting next month's Cecafa Senior Challenge Cup due to domestic and international ...
Source: AllAfrica.com   Full article at: AllAfrica.com
 

 
Update
1

8 weeks ago

Ethiopia: House Reviews Ethiopia, Sudan Criminal Proceedings Pact

Oct 27 2014 4:01am CDT | Source: AllAfrica.com

[Reporter]The House of Peoples' Representatives (HPR) during its regular session held on Thursday looked into a Mutual Legal Assistance Agreement on criminal matters between Sudan and Ethiopia which stipulates an exchange of vital evidence and witnesses in criminal investigation t ...
Source: AllAfrica.com   Full article at: AllAfrica.com
 

 
 

<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

blog comments powered by Disqus

Latest stories

Russia allows buffalo meat imports from India
Moscow, Dec 4 (IANS/TASS) Russia has allowed imports of buffalo meat from India, the country's veterinary regulator said Thursday.
 
 
New guidelines for prostate cancer testing
Melbourne, Dec 4 (IANS) Prostate cancer checks in Australia are set to improve after cancer agencies and health experts reached an agreement on new testing guidelines at the World Cancer Congress (WCC) currently being held in Melbourne.
 
 
Australian researcher discovers first artwork by early human
Sydney, Dec 4 (IANS) An Australian researcher has discovered what is believed to be the first artwork created by a human.
 
 
Insects compete with rats to clear garbage
New York, Dec 4 (IANS) Insects play a very important role in cleaning up cities and they compete with other pests like rats and pigeons in their endeavour, a study has said.
 
 
 

Latest from the Network

Australian researcher discovers first artwork by early human
Sydney, Dec 4 (IANS) An Australian researcher has discovered what is believed to be the first artwork created by a human. The simple zigzag pattern found on a fossilized shell from the Indonesian island of Java has...
Read more on Celebrity Balla
 
Insects compete with rats to clear garbage
New York, Dec 4 (IANS) Insects play a very important role in cleaning up cities and they compete with other pests like rats and pigeons in their endeavour, a study has said. Scientists sampled arthropods - such as...
Read more on Business Balla
 
School headmaster shot dead in Pakistan
Islamabad, Dec 4 (IANS) Unidentified gunmen Thursday killed the headmaster of a private school in Pakistan's Balochistan province. Police officials said the armed men opened fire at the vehicle of Zahid Ali,...
Read more on Politics Balla
 
Four more bodies recovered from sunken South Korean ship
Seoul, Dec 4 (IANS) Four more bodies were recovered Thursday from a sunken South Korean fishing ship in the Bering Sea, the foreign ministry here said. This increased the toll to 16, including six South Koreans and 10...
Read more on Politics Balla
 
Lesbian couple asked to desist in London restaurant
London, Dec 4 (IANS) A lesbian couple in a London restaurant was asked to desist by a staff member, who asked them to "stop what you are doing". Lydia Cawson, 29, said that she and her girlfriend were asked by a staff...
Read more on Politics Balla
 
Oxford Dictionaries to add 1,000 new words
London, Dec 4 (IANS) 'Mamil' (middle-aged man in Lycra), 'silvertail' (a person who is socially prominent or who displays social aspirations) and 'crony capitalism' are among the 1,000 new words to be added to...
Read more on Celebrity Balla
 
Oceans play key role in global 'warming hiatus'
London, Dec 4 (IANS) Increased heat uptake across three oceans - North Atlantic, the Southern Ocean and Equatorial Pacific Ocean - is the likely cause of the 'warming hiatus' -- the current decade-long slowdown in...
Read more on Politics Balla
 
Novel imaging to identify if TB drugs are working
Washington, Dec 4 (IANS) Tuberculosis patients who are not cured of the infection can develop multi-drug resistant TB and have to take as many as six drugs for two years. Now, researchers at University of Pittsburgh...
Read more on Business Balla
 
PM makes first appointment to High Court of Australia
Canberra, Dec 4 (IANS) Prime Minister Tony Abbott's government Thursday appointed former Victorian Supreme Court judge Geoffrey Nettle as the next Justice of the High Court of Australia. Attorney General George...
Read more on Politics Balla
 
18 suspected militants killed in Pakistan airstrikes
Islamabad, Dec 4 (IANS) At least 18 suspected militants were killed Thursday in airstrikes conducted by Pakistan Air Force fighter jets in North Waziristan. According to officials, the airstrikes were conducted in...
Read more on Politics Balla