Security Printing and Minting Corporation of India

Overview

The Security Printing and Minting Corporation of India Limited (SPMCIL) is a wholly owned Government of India company under the administrative control of the Ministry of Finance, Department of Economic Affairs. It is engaged in the production of currency notes, coins, postage stamps, non-judicial stamp papers, passports, security inks, security paper and other allied security products required by the Government of India and various state governments.

Key facts

Background

Security printing and minting in India has a long institutional history, with several units established during the colonial period and after Independence to meet the country's requirements for currency, coinage and other secure documents. Until the early 2000s, these units functioned directly as departmental undertakings of the Government of India. To bring greater operational autonomy, financial discipline and modernisation, the Government decided to corporatise these units under a single umbrella entity.

SPMCIL was incorporated as a public sector undertaking, and the nine erstwhile units of the Government were transferred to the new corporation, which began commercial operations on 10 February 2006.

Units

SPMCIL operates nine production units across India, comprising currency note presses, security printing presses, mints and a security paper mill:

• Currency Note Press, Nashik (Maharashtra) — printing of bank notes.
• Bank Note Press, Dewas (Madhya Pradesh) — printing of bank notes and manufacture of security inks.
• India Government Mint, Mumbai (Maharashtra) — coinage, medals and refining.
• India Government Mint, Kolkata (West Bengal) — coinage and medals.
• India Government Mint, Hyderabad (Telangana) — coinage and medals.
• India Government Mint, Noida (Uttar Pradesh) — coinage.
• India Security Press, Nashik (Maharashtra) — postage stamps, non-judicial stamp papers, passports, visa stickers and other security documents.
• Security Printing Press, Hyderabad (Telangana) — security documents and stationery.
• Security Paper Mill, Hoshangabad (Madhya Pradesh) — manufacture of bank note and non-judicial security paper.

Functions and products

SPMCIL's principal activities include:

• Printing of bank notes for the Reserve Bank of India, alongside Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL).
• Minting of circulation coins and commemorative coins for the Government of India.
• Production of Indian passports, visa stickers and other travel documents for the Ministry of External Affairs.
• Printing of postal stationery and postage stamps for the Department of Posts.
• Manufacture of non-judicial stamp papers, cheque forms and other security documents for state governments and central agencies.
• Production of bank note paper, security inks and refining of gold and silver bullion.

Subsidiaries and joint ventures

SPMCIL has entered into joint ventures to enhance domestic capacity in critical security materials. Notably, it formed a joint venture with Bharatiya Reserve Bank Note Mudran Private Limited for the manufacture of bank note paper at Hoshangabad and Mysuru, reducing India's dependence on imported security paper.

Significance

SPMCIL is one of the few entities in the world that combines currency printing, minting, security paper manufacture and security document printing under a single corporate umbrella. Its operations are critical to India's monetary system, postal services, identity and travel documentation, and revenue collection through stamp papers. As a Miniratna CPSE, it has greater autonomy in investment, joint ventures and operational decisions while remaining fully owned by the Government of India.

Related topics

• Reserve Bank of India
• Bharatiya Reserve Bank Note Mudran Private Limited
• Indian rupee
• Coins of India
• Indian passport
• Ministry of Finance (India)
• Public sector undertakings in India

References

• Wikidata entry: Q17079775
• Department of Economic Affairs, Ministry of Finance, Government of India.