KATHMANDU: The Banknote Shredding and Briquetting System (BSBS) has been formally launched at the office of Nepal Rastra Bank (NRB), Biratnagar.
NRB Governor Maha Prasad Adhikari inaugurated the programme by switching on the BSBS machine. The BSBS system has been adopted for the purpose of making small pieces of the banknotes that are considered unfit for circulation, and producing briquettes. Previously such notes were burnt and destroyed.
On the occasion, Governor Adhikari said that the launch of BSBS was an important achievement in terms of the modernisation and technology-friendly performance of the bank. He informed that a study is being carried out on the possible use of briquettes to be prepared using the BSBS system. The Governor also informed that the process of amending the rules for washing notes and formulating working procedures has reached the final stage to make BSBS systematic.
Likewise, Revati Prasad Nepal, Executive Director of NRB Currency Management Department, informed about the policy adopted by the bank to wash unsuitable notes and, the process of operating BSBS. On the occasion, Parashuram Nepal, Chief of Treasury Controller Office, Morang, said that the use of BSBS has modernised the method of washing notes. The programme was held under the chairmanship of Meena Pandey, Director at NRB, Biratnagar.
The BSBS machine prepares briquettes by cutting packets and bundles of all types of banknotes, including cotton and polymers. The machine has two sections. The first section cuts the notes and the second section makes briquettes from the cut pieces. The machine can hold up to 200 kg banknotes at a time and is capable of tearing100 kilograms of notes in an hour. The BSBS machine is capable of cutting the notes in an average size of 6×6 mm. 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 nearly one thousand hours in a year. The briquettes produced using the BSBS machine are believed to be useful in brick kilns, paper mills, coal used industries as well as for domestic purposes.