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Quote on Currency issue

Quote on Currency issue - Mr.Tamaal Roy, CEO - Biomatiques Identification Solutions

Quote on Currency issue - Mr.Tamaal Roy, CEO - Biomatiques Identification Solutions

India 10 November 2016:
“Removal of big currency is the first step in preventing illegal financial activities. This step will result in rise in plastic money like debit card, credit card, online transactions. There will be new opportunities which will open up for poor and middle class people. The reach of real estate, education and health care will expand.” Said Tamaal Roy, CEO – Biomatiques Identification Solutions Pvt. Ltd.

“Technology plays a critical role in enhancing security at all levels, establishing identity and accountability thus becomes a major challenge with this initiative. With the banking sector moving towards cashless economy, it becomes very important for banks to keep the Aadhaar identity secured. Hence it is very important to include IRIS in the eKYC of banks and online portals. It can become very useful tool in the expert hands of law enforcement, vigilance, security and allied agencies”, he further added.

Mr. Tamaal Roy, CEO, Biomatiques Identification Solutions Pvt. Ltd.

 Mr Tamaal Roy is the CEO of Biomatiques Identification Solutions Pvt. Ltd. with an engineering degree in Textile Technology

In the year 1985, Tamaal became a self-learned computer professional at a time when professional courses in computer science were not available. He then ventured into the new emerging Information Technological field.

With more than 3 decades of experience his major contributions include innovative software’s like ‘Master Drape’, ‘Master Weave’, ‘Jacquard Pro’ and ‘Tex Cad’ for the textile industries and ‘Jewel Pro’ for the jewellery and diamond industries. Also an embedded device called ‘Looms Computer’ was part of his significant offerings to the local Textile Industry.

He then forayed into the national market through his unique offering of a software called “PEHCHAN PRO”for FACE PORTRAIT BUILDING which till date remains the only IDENTITY KIT Software Certified by “Bureau of Police Research and Development” and the“Central Bureau of Investigation” (CBI). It is used all over the country by the police department to prepare sketches of the accused criminals on witness accounts.

In 2012, Mr. Roy started Biomatiques Identification Solutions Pvt Limited with the motive to manufacture the FIRST INDIGINOUS IRIS SCANNER. It is notable to highlight the fact that this is only the Thirteenth Company worldwide to have apatented iris recognition product in market and the first Indian company to step in the market.

At 49, Mr. Roy is very actively involved in the IT and biometrics domain. He believes in the mantra that “There are no short cuts to success. Success is the outcome of hard work, patience and dedication”.

Hindustan Chamber of Commerce welcomes Government’s move

“The move to demonetize currency notes of Rs.500 and Rs.1,000 is to fight against black money, corruption and counterfeit currency. I must congratulate Hon’ble Prime Minister Shri Narendra Modiji for his singular bold step and I am sure this will give decisive results, though it may be inconvenient for some time, because there is no operation without pain.

M. Razzack (Chartered Accountant),
Hindustan Chamber of Commerce

Reaction quote- Govt policy to withdrawal of currency- Bonita India

Mr. Umang Srivastava,Joint Managing Director, Bonita India said, "I believe this move by our Hon’ble Prime Minister, Sh. Narendra Modi, is a financial masterstroke that will help curb the phenomenon of black money and will help check terrorist activities. Not only will it contribute to reduce inflation due to excess liquidity in the market, but will also put our economy on a long-term path of cash-less transactions. On the retail front, we are not affected by this move as our transactions do not involve cash money transfers. Being a respectable and honesty-driven brand, our trade partners also do not indulge in cash transactions. From the consumer point of view, in the first few days, there will be some slowdown in sales as the consumers get to terms with this sudden dramatic development, but things will return to normalcy very soon. Our products are Home Utility products which the consumer needs daily; they will stop buying these products, though they can push off their buying ahead by a few days".