Counterfeiting of Rs 500 and Rs 2000 notes on the rise: RBI

Points to ponder:

  • The RBI detected 5.6% Fake Indian Currency Notes in 2018-19.
  • The total expenditure of security printing as per the RBI was Rs 48.11 billion.
  • Around 12,000 notes were fake in the denomination of Rs 200 which was introduced in August 2017.

According to RBI, the counterfeiting of new Rs 500 notes increased by 121% and of Rs, 2000 notes increased by 21.9% in comparison to the previous year. The RBI said that the denomination of Rs 200 note which was introduced in August 2017 had as many as 12,728 counterfeit notes, which were just 79 in the previous year.

The RBI also detected an increase of 20.2%, 87.2% and 57.3% in the counterfeit notes of the denominations: Rs 10, Rs 20 and Rs 50, however, the counterfeit notes detected in the denominations of Rs 100 declined by 7.5%.

Out of the overall Fake Indian Currency Notes (FICNs) detected in 2018-19 in the banking sector, 5.6% were detected by the RBI and 94.4% by other banks.

The complete expenditure incurred on security printing from 1 July 2018 to 30 June 2019 stood at Rs 48.11 billion as against Rs 49.12 billion in the previous year.

Source: firstpost.com

How food & beverages industry can stay safe from counterfeiting?

The food and beverage industry is a humungous industry globally. Due to our fast-paced lifestyle and the need for processed and ready to cook food, the food and beverage industry has witnessed the massive growth in the past few years. According to the leading research agency IGD, “The value of world’s grocery market will reach a staggering $11.8 trillion by 2020”.

However, at the same time, the food industry has become the target of criminals who are selling cheap grade fake food and drinks. There have been numerous reports of seizures of fake food items and drinks from different parts of the world. One of the biggest reasons behind the rise of counterfeit food items is their massive demand. It has been observed that consumers who are not able to buy genuine food items due to their high costs tend to switch over to their copies.

Counterfeit food items are usually made of cheap grade raw materials and harmful chemicals. For making such food and beverages counterfeiters don’t follow any standards and neglect the hygiene. This makes such items harmful to the health of the consumers. There are many instances where the consumption of counterfeit food items and beverages lead to food poisoning and other ailments.

The sole purpose of counterfeiters is to make the food items look visually similar to the original product which they generally achieve by imitating the packaging and branding of original items.

Manufacturers also suffer from the impact of counterfeiting. They lose profits and consumer trust which generally takes years to build up. Moreover, manufacturers have to spend a considerable amount in fighting fakes which rarely helps. Counterfeiters operate from multiple locations and it becomes challenging for authorities to trace them in one go.

A robust and secure packaging can play an imperative role in securing the food and beverage industry from the onslaught of counterfeiting. Manufacturers are nowadays rampantly using product labels integrated with QR code and bar codes which help in instant product authentication and also track and trace the product throughout the supply chain.  Some other highly popular secure packaging solutions include tamper-proof labels, security holograms, holographic shrink sleeves, and flexible packaging films.

Holostik is one of the pioneers in providing customized anti-duplication packaging solutions to the food and beverage industry. We not just provide holographic packaging solutions but also provide unique integrated offerings of digital and holographic security which together act as a double-edged sword against duplication.

With our anti-duplication solutions, the food and beverage industry can stay safe from the ill effects of counterfeiting. With our advanced track and trace solutions, manufacturers can monitor and manage their products in the supply chain. This helps them in preventing duplication, tampering, and diversion of their products. On the other hand, our holographic and digital product authentication ensures the authenticity of the product for the consumers.

If you are from the food and beverage industry and are looking out for tailormade anti-duplication and packaging solutions then call us on +91–785-785-7000 or mail us at connect@holostik.com.

Holostik showcases its products and solutions at PackPlus 2019

Holostik which is one of the pioneers of hologram manufacturing and anti-counterfeiting solutions in India displayed its wide range of packaging and anti-duplication solutions at PackPlus 2019. Considered as a one-stop solution for the label and packaging industry in India, the exhibition took place from 28th to 31st August 2019 at Pragati Maidan in New Delhi.

PackPlus is India’s biggest exhibition on the packaging, converting and supply chain industries. In its service to the industry for almost a decade, PackPlus has emerged as the most trusted and longest-running event for the packaging and converting industry in India. The exhibition showcased new-to-market products, solutions, and technologies from India and overseas representing segments such as packaging, converting, processing and supply chain among others.

The event was visited by important decision-makers and specifiers from the top and middle management from various industries including Pharmaceutical & Chemical; Food & Beverage, Dairy & Meat; Engineering; Garments & Textiles; Personal Care Products and Logistics.

Holostik displayed its latest packaging and anti-duplication solutions at the event which included security holograms, security pouches, holographic wads, shrink sleeves, security labels, wide web films and much more. The company also displayed its cutting-edge IT-enabled supply chain management solution which not just secure the products and supply chain but also help in the monitoring and management of supply chains.

Some of the IT-enabled solutions offered by the company include inventory management, loyalty management, warranty management, track and trace etc. Visitors at the event witnessed and understood the uses and benefits of different kinds of packaging and anti-duplication solutions.

Holostik to showcase its packaging and anti-counterfeiting solutions at PackPlus 2019

Holostik which is one of the leaders in anti-counterfeiting solutions in India will display its wide range of packaging and anti-duplication solutions at PackPlus 2019. Considered as one of the biggest events for the packaging industry in India, the exhibition will take place from 28th August to 31st August 2019 (9:30 AM onwards) at Pragati Maidan, New Delhi.

PackPlus is India’s biggest exhibition on the packaging, converting and supply chain industries. In its service to the industry for almost a decade, PackPlus has emerged as the most trusted and longest-running event for the packaging and converting industry in India. The exhibition showcases new-to-market products, solutions, and technologies from India and overseas representing segments such as packaging, converting, processing and supply chain among others.

The event will be visited by important decision-makers and specifiers from the top and middle management from various industries including Pharmaceutical & Chemical; Food & Beverage, Dairy & Meat; Engineering; Garments & Textiles; Personal Care Products and Logistics.

The grand exhibition will witness the presence of companies which are into Packaging Machines, Materials & Equipment, Coding & Marking Solutions, Flexo, Gravure, Offset & Screen Printing Presses, Label Printing Equipment, Corrugated Box Making Machinery, Paper, Film, Foil, Inks & Other Consumables, Food Production & Processing Equipment, Barcodes & RFID, Rigid & Flexible Packaging, Flexible Intermediate Container, Woven, Sacks & other Bulk Packaging Solutions, End-Of- Line Packaging Solutions, Supply Chain, Logistics and Material Handling.

Holostik will display its latest packaging and anti-duplication solutions at the event which will include security holograms, security pouches, holographic wads, shrink sleeves, security labels, wide web films and much more. Holostik aims to secure various kinds of products from the menace of counterfeiting and help companies achieve their targeted growth. Participants at the event will witness and understand the uses and benefits of different kinds of packaging and anti-duplication solutions.

APIs of drugs may soon get track and trace for authentication

According to recent news reports, the Health Ministry may soon introduce codes to track and trace key ingredients that are used to make medicines in India. The move will be the first step by the government to determine the origin and movement of drugs manufactured here and ensure their authenticity.

A senior official from the Health Ministry said, “A draft amendment mandating quick response (QR) codes at each level of the packaging of active pharmaceutical ingredients (APIs) used to give medicines their therapeutic effect is ready and will be notified soon.”

“For a medicine to be effective, the API has to be effective. As a first step, every API manufactured or imported in India will bear a QR code on its label at each level of packaging.” the official said.

India currently imports APIs of the value of Rs 12,255 crore from China to make essential medicines, as per government data. Drugs Technical Advisory Board (DTAB) India’s main drug advisory body during a meeting this year discussed necessary provisions for India’s drugs and cosmetics rules mandating QR coding on API labels.

Earlier this year, issues with qualities of APIs were raised during a Drugs Consultative Committee (DCC) meeting when Punjab sought provisions to make API manufacturers accountable and responsible for the quality of products.

“APIs by various vendors have been found without specifications with respect to their quality and in certain cases, desired effects are not obtained,” revealed the DCC minutes of the meeting. A track and trace system for pharma products has been under discussion for several years but implementation has bee stalled after the intervention by sections of the industry in the past.

Authorities arrest scammers making fake milk out of shampoo and detergent

Authorities in Madhya Pradesh recently raided three factories where fake milk was being manufactured. The spurious milk was being supplied to different branded outlets in six states including Delhi, Rajasthan, Haryana, Uttar Pradesh, and Maharashtra. Police found out that the factories were producing highly toxic milk made out of paint and chemicals.

As reported by media sources, in every one litre of milk 30 % was composed of refined oil, detergent, shampoo, white paint and glucose powder.

Rajesh Bhadoria, STF, Superintendent of Police said that the police teams seized around 10,000 litres of fake milk, around 500 Kg of mawa and 200 Kg of synthetic paneer in Morena and Bhind districts of Madhya Pradesh. Large quantities of detergent, refined oil and glucose powder were also confiscated.

Until now, around 57 people have been arrested in the scam. Sources reveal that the milk was produced at a cost of Rs 5 per litre and was sold at Rs 40-50 per litre while paneer was being sold at a high of Rs 100-150 per Kg. In 2018, an official of the Animal Welfare Board had noted that 68 percent of the milk and milk products sold in India are below the standards recommended by FSSAI and WHO.

The fake milk was made from chemicals which have serious repercussions on health ranging from kidney & liver failure, stomach diseases, and even cancer. The spurious milk also had maltodextrin which leads to a spike in the blood sugar levels- quite harmful for diabetics. The detergent in the milk not just damages the stomach lining but also causes severe food poisoning.

It has been found that the food inspectors in the area are part of the scam and investigating officials will take appropriate action against all those involved in the heinous crime.

Source: Vice.com

Holostik to exhibit at Automotive Engineering Show in Chennai

Holostik which is one of the leaders of hologram manufacturing and anti-counterfeiting solutions in India will display its wide range of packaging and anti-duplication solutions at the Automotive Engineering Show in Chennai. Considered as one of the biggest events for the automotive manufacturing industry, the event will take place from 4th July to 6th July 2019 at Chennai Trade Centre in Chennai.

The grand event will be visited by automotive manufacturers, retailers, consumers, research professionals and people from the press. With Chennai being called as the ‘Detroit of the East’ the event will try to bring the leading industry players on a single platform.

Holostik will display its latest packaging and anti-duplication solutions at the event which will include security holograms, security pouches, holographic wads, shrink sleeves, security labels, wide web films and much more.

Holostik aims to secure various kinds of products from the menace of counterfeiting and help companies achieve their targeted growth. Participants at the event will witness and understand the uses and benefits of different kinds of packaging and anti-duplication solutions.

Robust flexible packaging product: Holographic Shrink Sleeve

Among the many flexible packaging solutions, holographic shrink sleeves have gained immense popularity. Shrink sleeves are being used in different industries which include beverages, food, dairy, cosmetics, detergents etc. Shrink sleeves offered by Holostik are known for their holographic properties.

Shrink sleeves have become popular because they reduce in size and conform according to the shape of the container and become a sought of the sleek label for the product package. Shrink sleeves can include customised artwork and security printing which make them robust security packaging solution for a wide variety of products.

Let’s discuss the five major reasons which make shrink sleeves and ideal packaging solution:

  1. Shrink sleeves provide 360-degree branding for the product

Shrink sleeves can be wrapped around the entire packaging container and provide a 360-degree exposure to the brand name. The 360 branding holds an important place in marketing the product efficiently. Shrink sleeve helps the brand to showcase it in the best way- irrespective of the position.

  1. Can be used for all type of containers

One of the best quality of shrink sleeve is that it can be applied to containers of different shapes. Its property of adjusting to the shape of the container on the application of heat makes it an ideal packaging solution for different bottles and containers.

  1. The benefit of holography in shrink sleeve

A complete holographic shrink sleeve or the presence of holographic strip on it can act as a perfect anti-counterfeiting solution for the product.

  1. Eco-friendly containers

Shrink sleeves are one of the best eco-friendly products in the packaging industry. Shrink sleeves help in keeping away the adhesives and other harmful chemicals. The use of shrink sleeves causes minimum wastage.

  1. Effectively resists wear and tear

Shrink sleeves have become popular in the packaging industry as they can easily withstand all forms of wear and tear.