Bombay, April 12: Mr. B.N. Adarkar, Chairman of the Indian Banks’ Association, said that the Association had devoted considerable attention to evolving preventive measures against forgeries or fraudulent alteration of cheques and drafts. Mr. Adarkar, who was addressing the annual general meeting of the Association, said that it had also developed certain measures which could be readily employed by the banks. In addition, the Association had set up a temporary laboratory where a young chemist had been engaged during the last four months in testing the effects of various known chemicals used by forgers to make alterations in cheques and drafts. The chemist had also studied the suitability, from the point of view of preventing forgeries, of different varieties of security paper, printing and writing inks and colours as well as methods of printing. On the basis of these experiments, the chemist had made some interesting suggestions as to how the selection of paper and the printing of cheques and drafts could be improved in individual banks. The Secretary would forward these suggestions to the banks concerned for their consideration. Mr. Adrakar referred to the various legislative measures which had recently been taken by the Central and State Governments to take over the ownership and/or management of industrial undertakings, such as cotton textile mills, sugar mills, engineering works or coal mines and said that banks would certainly co-operate with the Government in implementing these measures, which had been taken in public interest to safeguard production and employment.
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