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Bridging The Gap
Bank of England admits to trace of animal fat in UK pound notes; Hindu groups say their values have been compromised
  Tuesday 21 February, 2017
Bank of England admits to trace of animal fat in UK pound notes; Hindu groups say their values have been compromised

London: Bank of England has admitted that there is a trace of tallow (animal fat) in UK pound notes, as per a media report.

As per India Today, the polymer pellets used in the base substrate of the polymer has animal fat.

Tallow gives a smooth finish to the note.

The bank has reportedly claimed that it was not aware of the presence of 'animal-derived products' when it signed the contract with its supplier for five and ten-pound notes until last November.

The report further said that the bank has alerted the public and is engaging with different groups to address the actual concerns.

But BOE is sticking firmly to its stand to publish the new polymer notes citing security and time constraints.

They are said to have spent 46 million pounds in printing the new five-pound polymer notes.

Bank of England has added that replacement of these notes will inflate the cost of printing each note.

Moreover, destroying old notes would mean pumping in an additional 50,000 pounds.

The media house quoted Pandit Satish K Sharma, general secretary of the National Council of Hindu Temples (UK) as saying - "For us, it's a very real issue because our sentiments are compromised. Especially in temples when you are giving notes and seeking blessings, you know the money donated is tainted."

"We have been taking legal advice because we are perfectly convinced that there have been human rights violations and our values have been compromised", Sharma added.

On the other hand, Umesh C Sharma, joint president of Hindu Council, UK, which represents 250 Hindu temples in the country maintained, as per India Today - "We agree that the tallow is of small quantity for the 5-pound note production. We appreciate the polymer note for its otherwise beneficial effect on ecology by the reduction in cutting trees. However, a palm oil substrate, perhaps equivalent to 100 trees, would be the best option for future productions."

Meanwhile, Bank of England has decided to halt the 20-pound polymer production for now.

"The new 20-pound polymer note is due to be issued by 2020 and production has not yet begun. It is necessary, however, to secure the supply of banknote materials several years before that issuance. The bank has delayed the signing of the relevant contracts for supply of materials for the 20-pound polymer until we have decided the best way forward weighing all the considerations", said Bank of England in a statement

Source: http://zeenews.india.com/india/bank-of-england-admits-to-trace-of-animal-fat-in-uk-pound-notes-hindu-groups-say-their-values-have-been-compromised_1979665.html

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