In a big development, India's largest multinational flexible packaging materials and solution company Uflex Limited has been certified by the Indian Banks' Association (IBA) as a security printer for printing MICR instruments for its member banks.
Talking more about this achievement, Mr. G.P. Pathak-Vice President and Mr.Rakesh Khazanchi - Associate Vice President of Holography Business at Uflex Limited said, "To standardize documents related to Bank Cheques and Ex-Chequer's Revenue Department, Security Printing for MICR instruments is mandatory. MICR stands for Magnetic Ink Character Recognition and requires 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, Mr. Dinesh Jain,President, Legaland Corporate Affairs and the Head of Holography Business atUflex said, "Now that we have been certified by Indian Banks' Association (IBA), 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, Mr. Ashok Chaturvedi, Chairman & Managing Director, Uflex Limited sad, "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 bodydoubled. Acknowledging our capabilities in developing world class anticounterfeiting 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."
Shares of UFLEX LTD. was last trading in BSE at Rs.304 as compared to the previous close of Rs. 304. The total number of shares traded during the day was 13620 in over 445 trades.
The stock hit an intraday high of Rs. 306.95 and intraday low of 298. The net turnover during the day was Rs. 4119461.