Spmcil

SPMCIL delivers 3.4 metric tonnes of refined gold to RBI in FY25: FM

Sitharaman added that SPMCIL also refines silver and gold received from institutions such as the Tirumala Tirupati Devasthanams and the Vaishno Devi Shrine Board

FM Sitharaman hails SPMCIL, hopes it to get status of Navratna soon

Finance Minister Nirmala Sitharaman on Monday lauded the performance of the Security Printing and Minting Corporation of India Limited (SPMCIL) and expressed confidence that it will soon become a Navratna state-owned company. Currently, SPMCIL, under the administrative control of the Department of Economic Affairs of the Finance Ministry, is a Schedule 'A' Miniratna Category-I company of the Government of India. The government grants Maharatna, Navratna and Miniratna status to Central Public Sector Enterprises (CPSEs) based on certain pre-defined criteria, including financial parameters such as track record of profit and net worth. Inaugurating the Corporate Office of SPMCIL, Sitharaman appreciated the works being done by the CPSE, which include printing of currency notes, minting of coins for circulation and commemorative coins. She hoped SPMCIL would also achieve Navratna status, given its consistent financial performance. Following its capital restructuring in 2015, the company

Introspect on adapting for India's path to a developed nation: FM to SPMCIL

Finance Minister Nirmala Sitharaman on Thursday asked state-owned Security Printing & Minting Corporation of India (SPMCIL) to find ways to transform itself at a time when its core business of printing currencies is depleting because of India's transition to a digital economy. Addressing the foundation day of SPMCIL, Sitharaman said at a time when minting coins in a digital era has become slightly jaded, the corporation has kept itself relevant by coming out with commemorative coins which can be gifted as souvenirs. The commemorative stamps and coins produced by the organisation are reflective of India's branding, cultural and environment issues, she said. SPMCIL has set the standards in gold and silver refining, and since 2022-23, SPMCIL has refined 5,300 kg of seized gold. It has paid a dividend of Rs 533.77 crore for 2022-23. The core strengths of SPMCIL include manufacture of bank notes and coins, also commemorative coins, and security products like passport and non-judicial ..

SPMCIL sets up new bank note printing lines at Nashik and Dewas

Security Printing and Minting Corporation of India Limited, under its modernisation initiatives, has set up 'new bank note printing lines' at Currency Note Press, Nashik and Bank Note Press, Dewas

Piyush Goyal asks SPMCIL to tap full potential, expand export footprint

Finance Minister Piyush Goyal Sunday asked state-owned Security Printing & Minting Corporation of India (SPMCIL) to tap its full potential and expand export footprint so that profit can grow exponentially. "I am told that the company has already initiated talks with some countries for minting of coins and you have potential to export to African countries and European nations," he said at the 13th foundation day event of SPMCIL here. The company should have huge outreach programme and try to get big orders in the area of minting of coins, printing of currency notes and postal stamp etc, he said, adding it should dream big and think of achieving profit of Rs 6,000 crore. The company should also focus on modernisation of its nine production units across the country so that it can get export order, Goyal added. SPMCIL, which earned a profit of Rs 630 crore last fiscal, is engaged in the production of currency and bank notes, Security Paper, postal stamps, security inks, and ...