Nepal Rastra Bank has come up with a state-of-the-art machine to destroy useless notes. The first notes caught fire. Now the machine will destroy the note. Now briquettes will be made from those notes. Such knots can be used to heat the fire. Bank Note Shedding and Briquetting System (BSBS) has been put into operation at its Biratnagar office for the purpose of modernization and mechanization of laundry.
On Friday, Governor Mahaprasad Adhikari inaugurated it by turning on the BSBS machine. NRB has stated that this system has been adopted for the purpose of making small pieces using BSBS machines and briquettes using automated technology.
Speaking on the occasion, the Governing Officer said that the launch of BSBS was a significant achievement in terms of modernization and technology-friendly performance of the bank.
He informed that the potential area of use of briquettes prepared by BSBS is being studied. The Governor’s office also informed that the process of amending the rules for laundering of notes and framing of work procedures to streamline the BSBS has reached the final stage.
On this occasion, Revati Prasad Nepal, Executive Director, Department of Currency Management, explained the policy adopted by the bank for laundering of unqualified notes and gave information about the operating procedure of BSBS. Speaking on the occasion, Parashuram Nepal, Head of the Office of the Comptroller and Auditor General of Morang said that the money-laundering system has been modernized with the use of BSBS. The program was organized under the chairmanship of Meena Pandey, director of Nepal Rashtra Bank, Biratnagar office. The BSBS machine breaks down packets and bundles of all types of banknotes including cotton and polymers into briquettes. The machine consists of two sections.
The first part is to break the note while the second part is to make briquettes from the broken note. The machine can hold up to 200 kg notes at a time and the machine has the capacity to break 100 kg notes per hour. Such 6 mm. Briquettes can be made by processing broken notes at the rate of 200 kg per hour. BSBS machine can be operated for one thousand hours per year. Such briquettes are believed to be useful for brick kilns, paper mills, industries using coal as well as for domestic purposes.
The bank plans to operate the system by connecting the under-construction building at Thapathali to the offices of Biratnagar, Janakpur, Birgunj, Pokhara, Siddharthnagar, Nepalganj, and Dhangarhi.
These machines are imported from the Netherlands. According to NRB, the process of making necessary amendments in the existing rules on money laundering has also been taken forward so that the system of money laundering through BSBS can be managed in a policy manner.
How does it work
The BSBS machine prepares briquettes by breaking packets and bundles of all types of banknotes, including cotton and polymers. The machine has two sections.
The first part is to break the note while the second part is to make briquettes from the broken note. The machine can hold up to 200 kg banknotes at a time and the machine has the capacity to break 100 kg notes per hour.
The average size of such a piece is 6x6 mm. Will be The briquettes can be prepared by processing the broken notes at the rate of 200 kg per hour. The BSBS machine can be operated for up to one thousand hours per year.
Such briquettes are believed to be useful in brick kilns, paper mills, coal used industries as well as domestic purposes.
The bank plans to operate the system by connecting the building under construction at Thapathali to Biratnagar, Janakpur, Birgunj, Pokhara, Siddharthnagar, Nepalgunj, and Dhangadhi offices.
These machines are imported from the Netherlands. The process of making necessary amendments in the prevailing rules for laundering notes has also been taken forward so that the system of laundering notes through BSBS can be organized in a policy manner.
The Banknote Shredding and Briquetting System (BSBS) is expected to be environmentally friendly.