 "Bank Note Paper Mill")
Can a joint venture (JV) company between two fully owned government subsidiaries call itself a private company? That question seems to have put the government in a dilemma.
Mysuru-based Bank Note Paper Mill (BNPM) India Private Ltd produces high-quality currency papers with security features supplied to the four currency printing presses located in Nashik (Maharashtra), Dewas (Madhya Pradesh), Mysuru (Karnataka), and Salboni (West Bengal).
BNPM is a 50:50 JV between Bharatiya Reserve Bank Note Mudran Private Ltd (BRBNMPL), a wholly owned subsidiary of the Reserve Bank of India, and Security Printing & Minting Corporation of India Ltd (SPMCIL), a government
