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Mints resume coin production, running on single shift

IANS  |  Kolkata 

State-run mints have resumed of coins from Friday after a three-day stoppage following an order of Security Printing and Corporation of Ltd (SPMCIL) to halt operations, an said here on Saturday.

The government-owned SPMCIL, had issued an order to all its four mints, located at Kolkata, Noida, and Mumbai, to halt productions of coins.

Later workers' union launched a protest and sought intervention of the

"All the four mints have started operations from Friday but now we are working only in one shift," Calcutta Employees' Union told IANS.

According to him, the production of coins is expected to be ramped up soon as of coins is done in two shifts -- day and night and there is demand for it.

"Apparently, it seems that there is a over-supply situation but this may be true for urban areas. Our estimates suggest, there is a substantial demand in rural areas," he said.

Dey said the Reserve indented about 771.2 crore pieces of coins of different denominations for this fiscal and the four mints together have so far produced about 590 crore pieces.

About 253 crore coins are yet to be taken by the apex bank, which manages circulation of coins and

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, January 13 2018. 21:54 IST
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