In a big development for the company, Uflex Limited has been certified by the Indian Banks’ Association (IBA) as a security printer for magnetic ink character recognition (MICR) instruments for its member banks.
Talking more about this achievement, Uflex Limited holography vice-president Mr GP Pathak and associate vice-president Mr Rakesh Khazanchi said: “To standardise documents related to bank cheques and exchequer’s revenue department, security printing for MICR instruments is mandatory.
“MICR stands for magnetic ink character recognition and requires a special printing system with overt and covert features for bank cheques, legal tenders and various other negotiable documents. Since Uflex possesses all required systems, technology and infrastructure, the Indian Bank’s Association conferred this certification to us.”
Explaining the significance of this status, Uflex legal and corporate president and holography head Mr Dinesh Jain said: “Now that we have been certified by Indian Banks’ Association, 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 delight over this achievement, Uflex Limited chairman and managing director Mr Ashok Chaturvedi 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, mark sheets, etc, Indian Banks’ Association (IBA) has given us the opportunity for security printing MICR instruments, which is a big honour 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 the 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.”