The document is a newsletter from HoMAI (Holography Manufacturers Association of India) that discusses various topics related to holography technology. The main stories discussed include:
- Zebra Imaging developing a new high-speed printing process for 3D holograms to replace physical models in industries like automotive and architecture.
- Habanos S.A. modifying the Cuban cigar warranty seal to include new security features like a hologram and personalized barcode to deter counterfeiting.
- The State Bank of India launching its first "cash factory" or Currency Administration Branch in Lucknow to better distribute notes and fight counterfeiting.
BPPG response - Options for Defined Benefit schemes - 19Apr24.pdf
Holography Times explores currency counterfeiting and solar innovations
1. The Holography Times
Special Report
?ALSO
• Zebra Saves Time, Money And Lives with Hologram • Hologram Warranty Seal
for Cuban Cigars • Reconnaissance Acquires Cross Conferences’ • Holographic
Technologies for solar Generation • Industry Updates and more… www.homai.org
The Holography Times is a quarterly newsletter published by HoMAI. 1
TM
Endeavour to safe guard products & people
April 2009 | Vol. III | Issue VI www.homai.org
Counterfeit Deterrence:
Currency design in India & abroad
2. The Holography Times
Holoflex
growth with
innovation
Counterfeit Deterrence:
Currency Design in India & Abroad
www.homai.org
Editorial
A warm welcome to all our readers!
With new hopes and resolutions we step into the New financial Year. Every financial year
comes with new challenges, new opportunities and new ideas. It is critical to reassess
one’s goals, objectives and strategies in order to keep pace with the changing nature of
the world and look your best. HoMAI is no exception.
Holography is amongst one of the few industries which has tremendous opportunities, but
is also subject to rapid advancement and innovation- where there is always something new
happening worldwide. Thus, there is a continuous need for up gradation of technology,
customer education & security features. As a hologram manufacturer, there is always a
challenge to stay a step ahead of counterfeiters.
We, the team of Holography Times, have set down certain agenda to ensure remarkable
achievement and progress of this industry. It has been our constant endeavour to bring
a sharper focus to the requirements of our readers, to talk to all users, model their use
of information in the newsletter, and design an appropriate format. We understand that
holography is not just restricted to security business. For a wider perspective we will try
to cover areas like, Medical Holography, applications of holography, Promotional, printing
etc. For this change to translate into success, we would like your feedback on what
should be included in our newsletter, as well as issues and questions that should be raised,
to make it a real medium of communication. In addition to regular features, we will be
sending you feedback questionnaires for your comments.
This quarterly issue of Holography times has a very important offering on currency
counterfeiting for our readers in the form of a special report titled “Counterfeit Deterrence
-Currency Design in India & Abroad”. A must-read for all members! This topic has been
included again in this edition, since the menace of fake currency is serious and real.
Seizures of large quantities of bank notes reported in the press suggest that there is a
dramatic increase in the scale of counterfeit in India. In this article we study counterfeit
money, its threat to society, explore the characteristic of an ideal currency & compare
and contrast design features in bank notes issued by monetary authorities of various
countries, to deter counterfeiting.This issue also includes latest holography happenings,
Technology read on use of innovative holographic technologies for solar energy generation,
Industry news & updates among many others.
With your support we will be back with more insightful and informative articles!
Happy reading!
Team HoMAI!
In this Issue
News Bytes 3-5
Corporate News 6
Company Profile 7
Holographic Solar
A scientific & novel approach
in solar energy generation 13
Event & Conference 14
New financial year!
New challenges!
2
3. The Holography Times News Bytes
Zebra saves time, money & lives with hologram
Zebra Imaging, an Austin fi rm,
has fi gured out a high speed
print process that reproduces any
form of 3-D computer data, as an
image that can be viewed from any
angle, without distortion. Also, it
has created a printing method that
generates images on fl at fi lm that
appear to be three dimensional,
without using special glasses. The
company, founded in 1996, initially
developed the technology so the
automobile industry could eliminate
the step of building clay models.
At present, Zebra Imaging’s largest
customer is the U.S. Army, which uses
the technology for geospatial maps,
since it gives a better idea of heights
and distances than conventional
maps. Here, holographic technologies
for military applications fi nd its use
in data visualization and table top
holographic displays of net-centric
battle space in the form of maps.
However, now, Zebra’s new printing
machine has opened up the hologram
market to many more manufacturers
and designers that need to see what
their computer-drawn products really
look like.
www.homai.org
The company is looking to expand its target
market from military to architecture due to
several factors providing an opportunity.
In addition to improvements in laser
imaging technology; architectural
drawings are now initially produced
with 3-D, computer-aided design
software. The shift is enabling Zebra
Imaging to directly produce the
holograms from natively produced 3-
D drawings, and skip to convert CAD
drawings to 3-D images. The 13-year-old
company plans to tap architects
as potential new customers.
Zebra’s innovation lies is making
large holograms that are accurate from
any angle- the approach is intended to
replace conventional model building.
A holographic model of a building
by Zebra Imaging Inc. can provide
a three-dimensional view for much
less money and in much less time
than physical models. Instead of
the weeks it takes to build a physical
model, a hologram can be produced
in hours. The turnaround production
time is fast and the model size, color,
quality, and potential for animation
are user-controlled parameters-giving
the architect more control. The cost of
a hologram is comparable to physical
models produced of the same size-
A single 2 sq. foot monochromatic
image panel typically costs $1,500
to $2,000, while color images cost
$3,000 to $4,000, whereas physical
models typically cost at least $6,000.
They are robust, easy to handle,
easy to transport and send. Updates
& multiple copies can be easily
produced & sent out to stakeholders
at a single / multiple locations.
Holograms can be archived as
physical documentation. Due to
these reasons the company expects
the technology to be a popular tool
among fi rms.
Source: www.zebraimaging.com
Inside the Humvee at night
AB Graphic launches new modules for foil hologram
AB Graphic International, a
worldwide supplier of label
converting and fi nishing equipment,
has announced a number of new
developments for its Digicon Series
2 label converting line. These include
modules for booklet insertion, foil
hologram registration and twin
fl atbed die embossing/foiling.
Omega Digicon series 2 is a modular
label converting line for digitally
printed webs and offers all the usual
production options such as 100%
camera inspection, hot foil stamping,
embossing, over laminating and
sheeting.
The new modules expand the range
of label applications possible. The
booklet insertion application is fi tted
to the Digicon on rails so that it can
be pushed out of the way when not
in use. Digital servomotors ensure
precise web tension and tracking.
The hologram module was recently supplied
for security application and is used in
combination with an inkjet printing system.
This particular converting line is unique in
that it has three web movements all on the
same machine; semi-rotary, intermittent
and full rotary.
The twin fl at bed die embossing
module with semi-rotary die cutting
is another innovation that also permits
foiling. Savings are realized through
the use of fl at bed tooling which is a
fraction of the cost of rotary tooling.
Source:www.labelsandlabeling.com
3
4. News Bytes The Holography Times
www.homai.org
Hologram warranty seal for Cuban cigars
In a move aimed at making it diffi cult
for counterfeiters to package and
sell fake Cuban cigars, Habanos S.A.,
responsible for manufacture and
export of Cuban cigars, has modifi ed
the look of the familiar green and
white “Cuban Government Warranty
Seal of 1912” which adorns all
legitimate boxes of Havana cigars.
The Warranty Seal has been one of the
most visible methods of determining
whether Cuban cigars are real or
not. The management of Habanos
has introduced this measure, since
bogus cigars cut into their profi ts, not
to mention alienates smokers who
quickly become disillusioned with
expensive Cuban cigars that taste
unremarkable and don’t live up to
their lofty expectations.
From now on, the leading cigar
supplier will introduce the new
Warranty seal in its packaging
to safeguard contents. Two new
elements will be added- a hologram
on the right hand as a security item
and a barcode on the left hand, next
to the Cote d´ Arms, which will
personalize every package.
The new seal has special characteristics,
such as an auto-destructive feature on any
attempt at removal, non-transferred label;
highly adherent paper (plastic) which is self-destructive;
scan and photocopy-protected
system; holographic band showing a
bi-colour text in the second and third
dimension; elements with optical variations
attached and an enclosed micro dot only
visible through a laser scanner.
A unique bar code will be applied on
every box, customizing every pack.
This information will be saved in a
database, allowing identifi cation of
the product at all times, including to
whom the product was addressed as
well as the invoice number.
Source: www.cigarcyclopedia.com
The new Cuban Warranty Seal with the personalized bar code on the left hand side
and the hologram on the right
This
picture
shows the
proper placement of the new Cuban
Warranty Seal in already
sealed boxes
HP launches new digital label press to
compete with flexographic
HP has launched its latest digital label
press, the HP Indigo WS6000, which
can handle up to 80% of jobs printed on
traditional flexographic presses and also
saves time. The new digital press is being
targeted at customers in the packaging and
marketing sectors.
The machine builds on HP’s
existing ws4500 model and can
print at speeds up to 30m per minute
in four-colour mode. According to the
manufacturer, the WS6000 has been
designed to be more cost-effective on
jobs up to 4,000 linear meters, which
is the kind of work that is normally
carried out on fl exographic machines.
Also, it can print on a variety of
substrates ranging from thin fl exible
packaging material, to folding carton,
label and shrink sleeve media.
Alon Bar-Shany, vice president and
general manager of HP’s Indigo
division, said the latest model builds
on the success of the ws4500 and
offers “a combination of quality, fast
turnaround and fl exibility enabling
customers to pursue new revenue
opportunities”. He added: “HP
is unlocking lean manufacturing
benefi ts for consumer packaged
goods makers in addition to offering
a competitive cost per label.”
Souce: www.printweek.com
4
5. The Holography Times News Bytes
Zimbabwe music rights association’s drive to fight piracy
Many efforts have been taken by
SBI launches 1st ‘cash factory’ to prevent counterfeiting
www.homai.org
In d i a ’ s
largest bank,
the State Bank
of India (SBI)
launched its
fi rst Currency
Administration Branch (CAB), in
Lucknow, to handle currency notes.
Also known as cash factory, CAB
is part of the bank’s plan to open
one currency chest in every city
to distribute notes to local banks
& ATMs, apart from identifying
counterfeit currencies.
The cash factory will be the nodal
point for all local SBI branches as
well as ATMs. About half a dozen
sophisticated note sorting machines
will sort out currency notes in four
varieties in the branch offi ce. The
fi rst variety currency notes will be
fed into ATMs, the second variety,
known as re-issuable notes, will be
kept for customer transactions, while
the third one, non-issuable, will
be sent back to the Reserve Bank
of India. Mutilated and bad notes
detected by machines will come
under the fourth variety and will be
subjected to further manual scrutiny.
This new arrangements will be aimed
at a more effi cient and cost-effective
centralized currency administration
system instead of having multiple
currency chests.
SBI chief general manager
Shiv Kumar also said, that “The
CAB would also give a boost to
the fi ght against fake currency in
Uttar Pradesh, which is turning out
to be a hub for counterfeit currency
notes smuggled purportedly across
the porous border with Nepal.” In
August last year, a Reserve Bank of
India team had unearthed counterfeit
currency amounting to over Rs.5
million from the currency chest of
SBI’s Domariaganj branch.
Source: www.timesofi ndia.com
organizations such as the Anti-
Piracy Organization of Zimbabwe
and other stakeholders to arrest
infringers of music piracy and put
mechanisms in place to protect artists
from having their music reproduced
, starving them of their dues. For an
industry growing at the rate of 18%,
piracy could abort its stratospheric
fl ight even before take off, thus more
is being done by the organizations to
protect artists.
To fi ght this menace, countries
such as Malawi and South Africa
have moved a step ahead in fi ghting
piracy through the introduction
of the security devices for sound
and audiovisual recordings- which
include banderole and hologram.
International research shows that the most
effective method of combating piracy is a
banderole system.
The methodology of the banderole
system is to mark legitimate product
with a label or sticker that is
impossible to forge. This assists the
consumers and the criminal justice
system to identify legitimate product
and provides necessary proof of
counterfeits. The banderole is not
just an identifying tool but also a
statistical tool since it is numbered.
This move has been welcomed by the
Zimbabwe Music Rights Association,
an association established to protect
the rights of the composers and
publishers of music and act on issues
concerning copyright. Accordingly,
banderole has been adopted and
business establishments that use
music, either by radio, television,
computer, satellite dish, mp3
players, and so on are expected
to be in possession of a copyright
music license from the Zimbabwe
Music Rights Association which is
renewable once a year. Section 35
D of the Copyright and Neighboring
Rights Act stipulates that no person
shall be accredited to purchase the
hologram unless he or she proves to
the satisfaction of the Copyright Offi ce
that he or she has been authorized by
the owner of the copyright work to
produce it. “It therefore means the
owner of musical works should enter
into a written agreement authorizing
whoever wants to reproduce the
works permission to do so”.
Introducing the hologram and
encryption system in the country
could be the beginning of protecting
music from being reproduced or
downloaded easily from the internet.
Kenya will be introducing the
hologram this year following the
review of their copyright law. Other
countries such as Zambia, Ghana,
Nigeria and Malawi are already
using the hologram to authenticate
their music, videos and fi lms.
Source: www.newsnet.co
5
6. Corporate News The Holography Times
French hologram industries acquires
advestigo
French holographic security solutions provider
Hologram Industries acquired local digital asset
management solutions provider Advestigo, on 13 March
2009. Advestigo is a French producer of software
specialized in the fi ght against counterfeiting.
According to Hologram Industries, the deal is estimated at
EUR4.5 million (USD5.8m). The acquisition is part of the
diversifi cation strategy of Hologram Industries. The deal
will allow Advestigo, which had several diffi cult years
due to high expenditure on research, to improve its sales
using the international network of Hologram Industries.
Source: www.reuters.com
Reconnaissance sits cross
conferences’ to its security portfolio
Reconnaissance International - a specialist publisher,
conference organizer and consultant for authentication,
brand and document protection, holography and currency
industries, has purchased the annual Pan-European
High Security Printing Conference and the Asian High
Security Printing Conference from the Cross Group and
BSC International. Established in 2001, these conferences
have become recognized as leading events within
the government and related high-security documents
arena. These are well-attended by a wide spectrum of
organizations involved in currency, document & product
protection including central banks, banknote printing
works, security printers, government departments and
major industry suppliers. The conferences cover issues
relating to banknote production and cash handling,
passports, tax stamps, e-passports, e-ID card production
and other areas involved in high security printing.
Ian Lancaster, managing director of Reconnaissance
International, said the acquisitions will be an excellent
fi t with the company’s existing portfolio. “Recognising
the success of the Cross Conferences we plan to retain
this name, so they will continue to be known as ‘Cross
Conferences,” he said. The Cross Conferences are a
joint operation between the Cross Group and BSC
International. The next four conferences will be
transitional, organised jointly by Cross Group, BSC
International and Reconnaissance International.
Source: www.reconnaissance-intl.com
www.homai.org
Holostik creating
hallmarks of success
Holostik India, one of India’s premier holography
companies, has achieved a turnover of Rs.71.60
crores, in the fi nancial year 2008-09, observing a growth
rate of 23% over the vast base of the company, in spite of
the recessionary environment seen the world over. This
has been the result of an aggressive expansion strategy
applied in security Hologram and Holography Products.
Continuous and rigorous R&D has been instrumental
in the introduction of many new products like window
label, high security label and many new features in master
origination. Another factor that has been responsible
for its success story is the fact that the management of
Holostik has focused on HR as an initiative to ensure
complete employee satisfaction and security, leading to
company growth.
Some of the achievements of Holostik in the last fi nancial
year (2008-09) are:
• Turnover – Rs.71.60 crores (22.64% growth over
2007-2008)
• New Orders – 819 (25.42% growth over 2007-2008)
• In the last fi nancial year (2008-2009) company has
produced 17.55 million square meter of hologram
and holography products.
The company and its employees have devoted a lot of
personal time and energy in ensuring that Holostik has
brought a sharper focus to the requirements of customers in
every sense. A true recognition of that has been by way of
business awards. The CMD Mr. U K Gupta was awarded
the prestigious “Brian Monaghan Award 2008” for Business
Innovation by IHMA. Holostik was awarded several
HOMAI Excellency Awards for Holographic Packaging,
Security / Authentic R&D, New Application, New or
Innovative Technique Origination and Highest Growth.
This year Holostik India Limited is focusing on many
strategies and factors like productivity, cost reduction,
maximum output, new product development for growth
of export business etc. to ensure a drastic growth story.
Other than this the group also has plans of diversifying
into many sectors other than holography.
Source: www.holostik.com
6
7. The Holography Times Company Profi le
Holoflex growth
with innovation
Holofl ex Limited is one of the leading manufacturers of
Holograms and allied products in India. An ISO 9001:2000
& ISO 14001:2004 Certifi ed Company - Holofl ex Limited
is recognized worldwide as one of the most innovative and
development-oriented product and document security
solutions provider.
Holofl ex has state-of-the-art manufacturing facility in
Kolkata houses some of the most sophisticated machinery
available in the country required for secure and high
quality security applications.
As one of the pioneers of this technology in India,
Holofl ex Ltd. entered a nascent market, which needed
extensive education on the concept of holograms.
Today Holofl ex Ltd. provides a variety of customized
holographic solutions to various government departments
in India as well as numerous corporate houses in India and
across 22 countries all over the world through its offi ces in
Kolkata, Mumbai, Delhi, Chennai, Guwahati and various
agents across the globe.
Member of the International Hologram Manufacturers
Association (IHMA), London, an exclusive body under the
aegis of the Anti-counterfeit Bureau, International Chamber of
Commerce, London, Holofl ex is also the Founder-Member of
Hologram Manufacturers’ Association India (HoMAI), New Delhi
the parent body of Indian Hologram manufacturers.
Holofl ex has been acclaimed nationally & globally for its’ obsession
to quality and focus on product innovation through various awards and
commendations from IHMA & HoMAI. Holofl ex was awarded as the winner
in the Best Hologram Label Category of IHMA Awards consecutively in 2003
& 2004.
Back home Holofl ex achieved similar feats at HoMAI Awards. Additionally, Holofl ex
have bestowed the honor of being the fastest growing company in the fi eld of holography
consecutively in 2007 & 2008 by HoMAI.
www.holofl ex.com
www.homai.org
7
8. Cover Story The Holography Times
Counterfeit deterrence:
Currency design in India & abroad
Despite the increasing use of electronic payments, currency retains an important role in the payment system of every country. However,
today, the crime of counterfeiting currency continues to present a potential danger to national economies and financial losses to consum-ers
at large. Recent seizures of large quantities of counterfeit bank notes reported in the press, suggest that, there has been a dramatic
increase in the scale of currency counterfeiting in India. Thus, to sustain public confidence in a circulating currency, banknotes must contain
features that the public can use to readily judge their authenticity and determine the notes’ denominations.
In this article we study counterfeit money & its threat to society, explore the characteristic of an ideal currency & then examine real world
considerations that affect currency design. We also compare and contrast design features in bank notes issued by monetary authorities of
various countries, to deter counterfeiting, including India.
First Indian Paper Currency
www.homai.org
History Of Counterfeit Money And Its Effects
Banking in India started as an activity among the European traders,
chiefl y the East India Company in the early 18th century. The fi rst bank
to employ the concept of paper money was a bank set up in Calcutta by
Governor Warren Hastings in c. 1770 AD. However, the idea of issuing
paper currency by the Government was promulgated by Sir James Wilson,
the Finance Member in the Executive Council of the Viceroy, in 1859.
Accordingly, an act was passed in 1861, empowering the Government of
India to issue currency notes.
However, world over, with the invention of a banknote, arose another problem-that of counterfeiting. The crime of
counterfeiting currency is as old as money itself. Modern counterfeiting began in 1650 A.D, when paper money was fi rst
developed. Initially nations used it as a means of warfare, to overfl ow the enemy’s economy with fake bank notes, so
that the real value of the money decreases. However, in the late twentieth century, with the invention of advanced
machinery such as color copiers & other electronic devices, counterfeiting became easier and further fl ourished.
Certain ill-effects that counterfeit money has on society are the reduction in the value of real money. Today, economists
question whether fake currency, with its role in the economy of black markets, is a factor behind India’s record infl ation,
due to more money getting circulated- an unauthorized artifi cial increase in the money supply. It further decreases the
acceptability and hurts confi dence of consumers leading to mass panic. Such is the fear of being handed counterfeits
that some people have stopped accepting Rs 500 notes. In these days, counterfeiting has also been used to promote and
sponsor terrorism. In India, counterfeit currency has long been a source of funding for terrorism. Investigations into at
least four cases — Hyderabad bombings of August 2007; the attack on the Indian Institute of Science, Bangalore, in
December 2005; the Ahmedabad bombings of July 2008; and the 26/11 terror attack on Mumbai — revealed a link.
Indian Banknote- Process And Circulation
The Reserve Bank decides the volume and value of banknotes to be printed each year, depending on the requirement
for meeting the demand for banknotes due to infl ation, GDP growth, replacement of soiled banknotes and reserve stock
requirements. RBI designs and prints its own banknotes at its works in Nasik. The basic raw material for making cur-rency
notes is cotton-based paper and special ink. While some quantity of paper used for currency is manufactured at the
Hoshangabad Paper Mills, the rest is met through imports from four fi rms, Arjo Wiggins of France, Portal of the U.K.
Gane of Sweden and Paper Fabric Luisantel. The Reserve Bank presently manages the currency operations through its
18 Issue offi ces. The Issue Offi ces of RBI send fresh banknote remittances to the designated branches of commercial
banks. Once in circulation, banknotes pass many times between the public and businesses before fi nding their way back
to RBI - either because they have become soiled or damaged in the course of transfers. The total supply of banknotes
during 2007-08 (July-June) was 8,488 million pieces (7,348 million pieces during 2006-07).
8
9. The Holography Times Cover Story
Trends In Indian Currency Counterfeiting
Dangerously, counterfeiters have managed to fi nd their way into the offi cial banking system. Even though appropriate
measures have been taken to prevent counterfeiting, in the larger reckoning, the problem remains.
• Face value of counterfeit currencies seized from different parts of India, in the fi rst 10 months of 2008 was Rs. 5.6 Cr,
three times more than in 2007
• In 2008, the CBI registered 13 cases having international/ inter-State ramifi cations relating to the recovery/ seizure of
fake Indian currency notes.
• According to a recent Government estimate, counterfeit currency amounting to Rs 169,000 crore is fl oating around in
the Indian fi nancial system. From real estate transactions to ordinary grocery shopping, these bogus notes are being
deployed everyday — sometimes innocently, sometimes with a sinister objective.
• A few months ago, fake currency amounting to nearly Rs 3 crore was found in the chest of the State Bank of India’s
Domariaganj branch in Uttar Pradesh. Some fake notes were also found in the currency chest of ICICI bank in Agra.
The examples can go on.
www.homai.org
Counterfeit Notes Detected
Denomination Number of pieces Value (Rupees)
2005-06 2006-07 2007-08 2005-06 2006-07 2007-08
1 2 3 4 5 6 7
Rs 10 80 110 107 800 1,100 1,070
Rs 20 340 305 343 6,800 6,100 6,860
Rs 50 5,991 6,800 8,119 299,550 340,000 405,950
Rs 100 104,590 68,741 110,273 10,459,000 6,874,100 110,237,300
Rs 500 12,014 25,636 66,838 6,007,000 12,818,000 33,419,000
Rs 1000 902 3,151 10,131 902,000 3,151,000 10,131,000
Total 123,917 104,743 195,811 17,675,150 23,190,300 154,201,180
Note: Data are exclusive of the counterfeit notes seized by police and other enforcement agencies.
Measures Taken by RBI
Various steps have been taken by the central bank to abolish counterfeit currency apart from legal action. The signifi cant
increase in detection is attributable to installation of a)Note Sorting Machines (NSM’s) by all banks at their currency
chest branches, to facilitate examination and detection of counterfeit notes at the currency chest level itself, b) the setting
up of the Forged Note Vigiliance Cells (FNVC’s) at banks & c) Computerization of currency management to ensure
stringent anti-counterfeiting management.
Security features of currency notes are also upgraded from time to time. A broad level Strategic Planning & Technology
Implementation Committee has been set up to conduct research and development in security settings. The RBI is also
contemplating enhancing security
features in Indian rupee note since this
would be the most effective measure
to control the threat. Recently,
Government of India is keen to
consider security products which
have been developed and tested
in at least three major bank notes
in the world, in efforts to make
counterfeiting diffi cult. The Indian
government has invited global tender
Different series of banknotes issued by RBI
The Reserve Bank introduced the ‘star series’ numbered banknotes in the denomination of Rs.
10, Rs. 20 and Rs. 50 in April 2006. The star series of numbering is different from normal
numbering, used for replacing the defective notes (single/packet) with star series notes. After
successful introduction of star series in the denominations of Rs. 10, Rs. 20 and Rs. 50, the
Reserve Bank will now be introducing non-sequential numbering for Rs. 500 and Rs. 1,000
denominations notes. With this system in place, a fresh banknote packet will have 100 pieces
that may not be serially numbered banknotes from 1 to 100, since, it is essential to meet the
demand for fresh banknotes by bringing greater efficiency at the presses.
9
10. Cover Story The Holography Times
for participation in the process of short listing of Security features for bank notes It also proposes to withdraw all
currency notes printed between 1996 and 2000 and gradually introducing a new series of currency notes.
The fi nance ministry has set up a committee of representatives from the Department of Economic Affairs, Directorate
of Enforcement, National Security Council, home ministry
The Delhi Police Crime Branch is monitoring the fake currency
and the Intelligence Bureau for curbing counterfeiting of
network and has “stepped up intelligence significantly”,
currency. RBI organizes training programmes, to detect
fake currency, to bank offi cials, Govt. Department, police,
according to K.K. Paul, joint commissioner of police (crime).
paramilitary forces, etc.
www.homai.org
Security features in Indian banknote
• Watermark - White side panel of notes has Mahatma Gandhi
watermark.
• Security thread - All notes have a silver security band with
inscriptions visible when held against light which reads “Bharat”
in Hindi and RBI in English.
• Latent image - Higher denominational notes (Rupees 20 onwards)
display the note’s denominational value in numerals when held horizontally at eye level.
• Micro lettering - Numeral denominational value is visible under magnifying glass between security thread and
latent image.
• Fluorescence - Number panels glow under ultra-violet light.
• Optically variable ink - Notes of Rs. 500 and Rs. 1000 have their numerals printed in optically variable ink. Number
appears green when note is held fl at but changes to blue when viewed at angle.
• Back-to-back registration - Floral design printed on front and back of note coincides and perfectly overlap each
other when viewed against light.
• EURion constellation
• Intaglio Printing: The portrait of Mahatma Gandhi, the Reserve Bank seal, guarantee and promise clause, Ashoka
Pillar Emblem on the left, RBI Governor’s signature are printed in intaglio i.e. in raised prints, which can be felt by
touch, in Rs.20, Rs.50, Rs.100, Rs.500 and Rs.1000 notes.
Characteristics Of An Ideal Currency
• Extremely diffi cult to duplicate
• Easily recognized by the general public
• Durable (remains visible after considerable wear)
• Can be machine-readable
• Easy to produce at low cost
• Acceptable to the public (aesthetically pleasing)
• Non-toxic and non-hazardous
What Are Other Countries Doing
Innovation has intensifi ed the race between increasingly sophisticated counterfeiters and banknote designers. The
improving performance and decreasing cost of information technology have reduced “barriers to entry” in counterfeiting.
Thus, to control this menace, bank note designers worldwide have introduced a number of features to deter counterfeiting.
Most banknotes incorporate several security features, including holograms, micro printing, serial numbers, and
watermarks. Most notes also include one or more visual accessibility feature, including different sizes and principal
colors for different denominations, oversize high-contrast numerals, and tactile features such as embossed numerals or
recessed/raised dots.
The goal of secure or ‘intelligent’ printing is to fi nd features which are prohibitively expensive to counterfeit. The
‘foundation’ of banknote security is paper. High quality paper is required for reasons of durability. Also, at least
20 countries, in the world, are using plastic notes, which are supposed to be more durable, being made of non-
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11. The Holography Times Cover Story
Currency Features - Features to assist authentication and
www.homai.org
Features to assist authentication for selected countries are summarized below.
Australia
Canada
Euro
Hong Kong SAR
Japan
India
Sinagpore
Sweden
Switzerland
UK
USA
denominations (Anti-counterfeiting measures)
Background printing offset Y
Braille codes Y
Clear window Y
Color changing number / Color shifting inks Y Y
Concealed images / denominations Y
Engraved Portrait Y
Fine line patterns Y Y
Fluorescent ink properties Y
Fluorescent machine -readable barcode Y
Fluorescent / UV light tests Y Y Y
Holographic Stripe / Hologram patch / Holographic Window thread /
Hologram / Kinegram / Foil-strip Hologram / Hologram & Foil Y Y Y Y Y Y Y
Iridescent images Y
Intaglio Printing / Raised Printing Y Y Y Y Y Y Y Y
Invisible feature : non-refl ective under UV light Y
Latent Image Y Y
Lithographic Print Y
Low vision feature Y
Machine readable feature Y
Microlettering Y Y Y
Micropriniting Y Y Y Y Y Y
Motion feature Y
Optically variable ink Y Y Y
Pearl Ink / Shimmering mother -of-pearl-ink Y Y
Perforations Y Y
Security thread Y Y Y Y Y Y Y
See through window Y
See through registration device / See through number /
See through number / See through feature /
Asymmetrical serial numbers Y Y Y Y Y
Serial Number Y
Shadow image Y
Tactile marks Y
Transparent register Y
Ultra fi ne-line printing Y
UV and Metallic digits Y
UV light tests Y Y
Watermark / Watermark portrait Y Y Y Y Y Y Y Y Y Y
Window color shifting thread Y
* Features fi lled with color are amongst most common measures used by various countries.
11
12. Cover Story The Holography Times
porous polymer with a special protective coating that prevents absorption of moisture. Such notes are said to be more
counterfeit-proof. Australia has started issuing plastic banknotes which contain clear plastic ‘windows’ (performing a
function similar to watermarks in paper). Other features that are added during manufacture are, e.g. watermarks
and ultraviolet (UV) fl uorescent fi bres; the security thread. The next layer of security is in the printed design. Inks
which are diffi cult to obtain are commonly used, which can only be printed using high quality printers. The texture of
the printed surface is also controlled: the raised writing e.g. on Bank of England notes (‘Intaglio’), which also requires
special printing presses. Another graphical security feature is ‘registration’, where images printed on the front and back
of notes coincide exactly when held up to the light.
More ‘exotic’ (and expensive) security features are also available and introduced by various countries. ‘Optically
Variable Ink (OVI)’, is used, which changes colour depending on the angle of view. Foil patterns of various
complexities can be stamped onto a note. More advanced and diffi cult to counterfeit non-printed features include,
advanced optical devices, such as holograms, and the Kinegram. These holograms are essentially a three dimensional
drawing or photograph. Security holograms are mass produced, but the replication process requires specialized, let alone
expensive, equipment to pull off. This is an advanced security feature utilized by many currencies such as the British
Pound, the Euro, Canadian Dollars, Japanese Yen, the South Korean Won etc. Also, there is much research into new
kinds of machine-readable features- that may prove very diffi cult to counterfeit. For example, ‘biological tagging’
using minute quantities of genetic material (DNA or RNA), and ‘phase masks’ which are high security laser-readable
devices.
In this analysis, we focus on currency design features that enhance counterfeit deterrence. All currencies issued worldwide
contain some of these design features but, interestingly, different countries have made different choices.
Recommendations
Though the RBI and banks underplay the magnitude of the counterfeit problem in India, the last one year has seen a
dramatic increase in seizures of fake currency in every single state-not surprisingly; the Border States witness more
of these cases. What seems to be the main cause of concern is the changing pattern of counterfeiting, the global scale
of operations and the fact that India has a vast parallel cash economy. Also, increased sophistication of fake currency
highlights the fact that security measures employed by RBI need to be up scaled.
If India has to combat the crisis, it has to fi rst tackle the area of bank note printing. Considering the nemesis that
counterfeiting has on the economy, the governments of various nations have taken a number of steps to combat it.
However, the monetary organizations the world-over, conclude that only continuous design innovation can sustain a low
frequency of counterfeit notes in circulation –which holds true also for Indian bank note designers.
All banknotes contain security features to deter counterfeiting. Some usual features include paper or polymer substrate
and intaglio printing, which assist the public in authenticating notes by touch; and are most often detected by the public
and bank tellers because “they don’t feel right.” There has been some talk of Indian moving to polymer notes like
Australia. Other note features, include micro printing, magnetic inks, color-varying fl uorescent threads, infrared
components, and holograms which are valuable authentication across wide range of devices, from handheld
devices and ATM machines to high-speed currency sorters, as they appear as black/grey or brown patches on the
surface of the counterfeits. Even though RBI uses most of these security features (as shown in table), it further needs to
introduce certain advanced, diffi cult to counterfeit and easily recognizable features such as advanced optical devices like
holograms and kinegrams. This is because the public generally does not inspect more than one distinguishing/visible
security feature and remembering one single ergonomic verifi er in a banknote seems reasonable. To reduce counterfeits,
Indian manufacturers have been consistently trying to convince the government to start using holograms on currency
notes, something that currently more than 100 countries are doing.
Also, changes in currency design prove to be an important tool to deter counterfeiting. European newspaper articles
suggest that counterfeiting rates for the euro are signifi cantly lower than for the individual country bank notes that it
replaced. News reports from Canada also illustrate the necessity for updating currency designs. In 2004-05, Bank of Canada
introduced new security features like holographic strip, watermark portraits, color shifting threads, a see through number
and enhanced fl uorescence to upgrade his currency. The new added feature sharply reduced the counterfeiting rate to 2.2
notes from 4.7 per 10,000 during fi rst eight months. Thus, combinations of features that score high on anti-counterfeiting
should be incorporated into test banknotes. These could then be subjected to adversarial analysis to determine their
deterrent effectiveness and used to gauge public acceptability through mechanisms such as focus groups.
www.homai.org
12
13. The Holography Times Technology
Also we can look at reducing the quantum
of currency in circulation by encouraging
banking and other transactions through
instruments like online payments and
use of plastic. Banks further need to adopt
sophisticated detection technologies
and follow procedure when it comes to
reporting fake currency. The Government
on its part should encourage fair and
fearless reporting of the fake currency.
Otherwise, in the normal course, the
person making the report becomes the
primary suspect. It also needs to distribute
all compromised features of fake notes
and make it available to all agencies
associated with the investigation. The four
main nodal agencies i.e. The CBI, the
Directorate of Revenue Intelligence, The
Central Economic Intelligence bureau,
and the Enforcement Directorate need to
look at various aspects of the problem and
coordinate on a regular basis. Continuous
advances in printing technology needs
to take place, which will require banknote
designers to work aggressively and keep
changing and innovating, to remain ahead
of sophisticated counterfeiters.
Conclusion
Currency is widely used in the payment
systems of all countries. In each system,
there are a large number of participants—
households, retail merchants, fi nancial
institutions, high-volume currency
processors, and the central bank or
currency-issuing authority. We may
believe that the above means make take
India to a country of zero counterfeit
currency and accelerate the growth of our
economy, however, the way, we in India,
can tackle this problem is to exercise
vigilance, on the part of every citizen,
“If men were angels, no government
would be necessary.” This battle against
counterfeiting, is not only for the strong
alone; but for the vigilant, and the active.
Sources: www.bankofengland.co.uk,
www.bankofcanada.ca
www.wikipedia.org/wiki/Counterfeit
www.cbc.ca, www.banknotes.com
www.homai.org
Holographic solar
A scientific & novel approach in
solar energy generation
Worldwide solar-energy output has grown dramatically in recent
years. The total output from solar installations worldwide, however,
remains around 7 GW, only a fraction of the world’s energy requirement.
High material and manufacturing costs, low solar-module effi ciency, and
worldwide shortage of refi ned silicon all have limited the scale of solar-power
development required to effectively compete against coal and
liquid fossil fuels.
Solar photovoltaic cells have been developed but using them has
limitations. The main limitation of solar power right now is cost, because
the crystalline silicon used to make most solar photovoltaic (PV) cells is
very expensive. Thus a number of alternate approaches are being explored
to improve the cost per kilowatt of solar power.
Use Of Optics In Solar Energy Generation
Attention has been given to optics technologies in solar energy generation.
A novel approach to concentrating PV solar is being proposed by Prism
Solar Technologies. Instead of using mirrors or lenses to concentrate the
sunlight holograms are used. Holographic planar concentrator (HPC) is
an approach that uses fewer solar cells and more effi ciently harvests the
sunlight, so that systems can be produced at lower cost than competing
solar technologies.
The system needs 25 to 85 % less silicon than
a crystalline silicon panel of comparable
wattage, because the photovoltaic material
need not cover the entire surface of a
solar panel. Instead, the PV material is
arranged in several rows. The holographic
concentrator utilizes a two-stage optical concentrator and silicon PV
cells. A concentrator is built up from several layers of fi lm composed
of gelatin on polyethylene terephthalate. The hologram spectrally selects
sunlight and collects and concentrates it. A layer of holograms -laser-created
patterns that diffract light -refl ects selected frequencies of light
to the mirror-like inside surface of the upper transparent glass where it
continues to be refl ected until it reaches a solar cell.
Like other concentrating PV systems one of the advantages of this system
is that it uses less silicon than conventional PV modules. There are two
designs of a Holographic planar concentrator - a monofacial design and a
bi-facial design. A mono-facial module design (that is, one that collects
solar energy from the front only) uses 50% less silicon than a conventional
panel whereas a bifacial HPC confi guration uses 72% less silicon than
a fully populated module. This can also be viewed as a 300% increase
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14. Technology The Holography Times
www.homai.org
in watts/gm of silicon, an important consideration in light of worldwide
shortage of refi ned silicon.
A second important benefi t of the holographic concentrator is the “passive
tracking” characteristic which requires no moving parts. This means that
it collects indirect & diffuse light throughout the day and through clear
and cloudy condition. Different holograms in a concentrator module can
be designed to focus light from different angles -- so there is no need
of moving parts to track the sun. This gives greater output in the early
morning and late afternoon.
The third advantage is that it requires no external cooling. The performance
of PV cells in conventional modules tends to drop signifi cantly as
temperature increases, since infrared radiation would be converted to heat
rather than output energy. In an HPC-based module, the radiation passes
through the fi lm and is not absorbed. The concentrators’ ability to pass
unusable wavelengths means that the solar cells remain close to their ideal
operating temperature without mechanical cooling.
The effi ciency of Holographic planar concentrator remains high for
lower-light conditions and performs better as temperature increases,
because of the ability to pass infrared wavelengths and also because heat
can be dumped into a larger volume of material than in a fully populated
module.
One last advantage of the holographic module is that, because of its
inherent passive tracking characteristics, it can be mounted in a variety
of locations and orientations, including commercial white roofs, fl at and
inclined roofs, windows, vertical walls, etc. Passive tracking increases the
irradiance to the solar cells even when they are mounted in a less than
optimal orientation. With these features, it is believed that holographic
technologies might be next promising frontier for increasing energy
effi ciency from solar photovoltaic modules.
Events
&
Calendar
6TH PISEC
June 22-24, 2009,Athens, Greece
www.cross-conferences.com
Pharmaceutical Anti-Counterfeiting Workshop
May 5-7, 2009, New Delhi
www.lexisnexis.com
23rd International Security Printers Conference
May 13-15, 2009, Stockholm, Sweden
www.intergraf.eu
Global Pharmaceutical Fraud &
Anti Counterfeiting Conference
2nd – 3rd July 2009, Singapore
www.globalpharmafraud.com
Pack Plus 2009
July 8-11, 2009
www.print-packaging.com
Asia Print & Pack Expo 2009
August 28-31, 2009
www.asisprintpackexpo.com
Holo-pack Holo-print 2009
November 11-13, 2009 -Budapest, Hungary
www.holopackholoprint.info
Editorial Board
C S Jeena Neha Gupta
The Holography Times is published by
HOLOGRAM MANUFACTURERS ASSOCIATION OF INDIA
(HoMAI)
21-Ground Floor, Devika Tower 6, Nehru Place,
New Delhi110019, INDIA
Telefax: +91-11-4161 7369,
Email: theholographytimes@gmail.com
Disclaimer: The data used here are from various
published and electronically available primary
and secondary sources. Despite due diligence the
source data may contain occasional errors. In such
instances, HoMAI would not be responsible for
such errors.
Glass
Hologram
Glass
SUNLIGHT
Simplified
Cross-Section
Schematic
Cell Spacing
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