Speaking to reporters at the India Security Press (ISP) gymkhana after concluding his two-day visit to Currency Note Press (CNP) and India Security Press (ISP), Kumar said that the colour combination and design for the 1000 denomination notes have been finalised and its production would be launched in January 2000 at the Nashik and Mysore Currency Presses.

The notes are quite distinct from 100 and 500 denomination notes. Their colour, length and size will differ greatly in order to differentiate between the various notes, he said.

He added that the colour change had been finalised in the 500 denomination note to abolish its similarity with the 100 rupeenote.

Explaining the constitution of the new notes, Kumar said that the Rs 500 and Rs 1000 notes will have green colour from above and yellow colour at the bottom.

This he said would take care of the imitation problem and added that printing of these notes in duplicate would be next to impossible.

Refuting charges that 1000 denomination note was going to be imported, Kumar said the notes would be printed indigenously as per RBI's requisition. The production of cheques for Government of India undertaking banks will also be done here.

A confident Naveen Kumar said that the target of 6.35 million notes given by the RBI would be completed successfully.

The work of modernising the press machinery is going on smoothly he informed and after completion there will be a formidable increase in production, he added.

Press General Manager V K Jain, press officers and others were present at the conference.