India’s largest multinational flexible packaging materials and solution company Uflex has recently been certified by the Indian Banks’ Association (IBA) as a security printer for printing MICR instruments for its member banks. As a major flexible packaging printer and holographic film supplier, Uflex has many innovative security systems in place for anti-counterfeiting and track & trace of print products. The company sees huge opportunity for producing secure documents and bank instruments both for the local and international markets.
To standardize documents related to bank cheques and the Ex-chequer’s Revenue Department, security printing for MICR instruments is mandatory. MICR, which stands for Magnetic Ink Character Recognition, is required in addition to special overt and covert features for bank cheques, legal tenders and various other negotiable documents. GP Pathak and Rakesh Khazanchi of the Holography Business unit at Uflex explained, “Since Uflex possesses all required systems, technology and infrastructure, the Indian Bank’s Association conferred this certification to us.”
Explaining the significance of the certification, Dinesh Jain, president, Legal and Corporate Affairs and the head of the Holography Business at Uflex said, “Now that we have been certified by IBA, a huge window of opportunity for security printing of MICR instruments both in India and overseas has opened up for Uflex. We will make the most of it.”
Expressing his delight, Ashok Chaturvedi, chairman and managing director of Uflex said, “We have been at the vanguard of the global fight against counterfeiting by offering top of the line brand protection solutions to our clients in the flexible packaging space, preventing them from being body-doubled. Acknowledging our capabilities in developing world-class anti-counterfeiting solutions for brands, academic qualification degrees and mark sheets, the IBA has given us the opportunity for security printing MICR instruments, which is a big honor and responsibility in itself. Through immaculate R&D, we remain committed to raise the bar of technology in the field of security printing and brand protection giving a tooth and nail fight to nefarious counterfeiters operating out of dingy corridors across the world. Our cutting-edge technology towards developing the most contemporary and impregnable brand protection solutions is a befitting reply to counterfeiters and a concrete step towards annihilating the dark underbelly of plagiarism and counterfeiting.”