Finance Minister Arun Jaitley Inaugurated the New Bank Note Paper Line

News

• The foundation stone for this New Bank Note Paper Line was laid on 17.12.2011 by the then Finance Minister, Shri Pranab Mukherjee.
• The project has been completed at a cost of Rs. 495 crore within the budget and within the time schedule.
• This New Security Paper Mill in Hoshangabad will give India indigenously produced currency note paper and will prove to be a major step towards Prime Minister Shri Narendra Modi’s ‘Make In India’ initiative.
• This New Paper Line is environment friendly aiming for zero liquid discharge. The latest surveillance system SAP-ERP and with state-of-the-art fire and safety system has been installed.
• This plant has a latest Mould Cover manufacturing facility for manufacture of the Bank Note paper with latest designs.
• Security Printing and Minting Corporation of India Limited (SPMCIL), a Miniratna Category-I CPSE, is a wholly owned Schedule-A Company of Government of India. The Company was incorporated on 13.01.2006 and has nine Units engaged in minting of Coins, Printing of Bank Notes, Passports, Postal Stationery, Non-Judicial Stamp Papers, and other Security Documents & manufacture of Security Paper.
• SPMCIL has more than doubled the production of the Coins and Bank Notes while manpower has reduced by one third.
• The turnover of the company has increased about three times during the last eight years. SPMCIL has been paying dividend @20% of the Net Profit continuously for the last four years.
• It has obtained EXCELLENT rating in its MoU performance for the last five years. It has paid back Rs. 1,110 crore loans of BRBNMPL and Ministry of Finance, invested about Rs. 1,540 crore from its own resources and created cash reserves of about Rs. 1,500 crore.
• It has carried out phase-I modernization of Mints by introducing state-of-the-art coining machinery.
• Two More Paper Lines of Total Capacity of 12,000 MT, would be set-up at security paper mill, Hoshangabad and a New Security Paper Mill through JV Company has been established at mysore in Karnataka ensuring huge savings on Foreign Exchange.