image

Record Performance of SPMCIL in Production of Bank Notes, Coins and Security Products During 2012-13

Security Printing & Minting Corporation of India Ltd. (SPMCIL) has achieved all the targets with regard to production of Bank Notes, Coins, Security Products (Passports, NJSPs, Postal Products and other Security Products) and production of the Raw Materials (Security Inks and Security Paper) during the year 2012-13. It has not only met with the original targets but it also has surpassed the revised targets. While achieving the ever highest targets, SPMCIL has also increased productivity per employee considerably as per the details given below:

¢ SPMCIL has produced 7421 million pieces of the Bank Notes and supplied 7391 million pieces as against the original target of 6920 million pieces and the revised target of 7320 million pieces. This is 13.5% higher than the production of 6539 million pieces of the Bank Notes during last year. Production of the Bank Notes per employee has increased to 1.83 million pieces as against 1.63 million pieces achieved during last year. These are the highest ever figures achieved in the history of the Bank Note Presses.

¢ SPMCIL has produced 6707 million pieces of the Circulating Coins and supplied 6878 million pieces of the Coins during the year 2012-13 as against the target of 6600 million pieces. This is 6.75% higher than the production of 6282.40 million pieces achieved during last year. Production of Coins per employee has increased to 1.91 million pieces in 2012-13 as against 1.69 million pieces achieved during last year. These are the highest ever figures achieved in the history of Mints.

¢ SPMCIL has produced 52856 million pieces of Standard Product Unit (SPU) for Security Products consisting of Passports, NJSPs, Postal Products and other Security Products during the year 2012-13 as against 51449 million pieces of SPUs produced during the last year. The production of the Security Products in terms of SPUs per employee has increased to 14.39 million pieces in 2012-13 as against 13.10 million pieces achieved during the previous year.

¢ SPMCIL has produced 484 Metric Tonnes (MT) of the Security Inks in 2012-13 from the Ink Factory Dewas against 273 MT of inks produced during 2011-12. Now, SPMCIL Presses have become self-sufficient in Security Inks.

¢ The Security Paper Mill in Hoshangabad has achieved the target for 2012-13 by producing 2925 MT of Security Paper and has supplied 3021 MT Security Paper to the Presses. This is the third year in succession that the Paper Mill has met with the target though the machinery is about 40 years old.

SPMCIL in the 7th year of its operations as a CPSE has continued with its excellent performance in all spheres of its activities. It has become a Debt Free Company on 31.03.2012 by returning all the loans taken from Ministry of Finance and RBI subsidiary, Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL). The Company has obtained ˜Excellent™ rating in its MoU for the last three years in succession. The Company has also obtained ˜Excellent™ rating in Corporate Governance from DPE for the last two years in succession.

Security Printing and Minting Corporation of India Limited (SPMCIL), a Miniratna Category-I CPSE, is a wholly owned Schedule ˜A™ Company of Govt. of India. The Company was incorporated on 13.01.2006 and all nine units of Govt. of India engaged in minting of Coins and printing of Bank Notes, Passports, Postal Stationery, Non-Judicial Stamp Papers and other Security Documents and Security Paper were transferred to the Company on 10.02.2006.

*****

Tags: BanknoteBusinessCoinHoshangabadIndiaMintPaper MillSecurity printing

profile image

About eMinds Legal

eMinds Legal

eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

Corporate Law Referencer

Recent Articles

Recent Legal updates

Recent Gst Updates