Security Printing and Minting Corporation of India

Security Printing and Minting Corporation of India, commonly known as SPMCIL, is a Government of India enterprise operating under the Coin and Currency Division of the Department of Economic Affairs in the Ministry of Finance. Its role is to manufacture and supply products that require high levels of physical, chemical and graphic security, including banknotes, security paper, non-judicial stamp paper, passports, visas, postage stamps, cheques, bonds, certificates, security inks, circulation coins, commemorative coins, medallions and refined precious-metal products. SPMCIL was incorporated on 13 January 2006 after the Government of India consolidated and corporatized nine production units that had previously operated under the direct administrative control of the Ministry of Finance and the Department of Economic Affairs. The consolidated organization brought together two currency-note presses, two security-printing presses, four government mints and one security-paper mill. Its registered office is in New Delhi, while production is distributed across facilities in Nashik, Dewas, Hyderabad, Mumbai, Kolkata, Noida and Narmadapuram. The corporation emerged from a policy effort to address the limitations of operating the production units as separate government departments. Reviews identified low productivity, aging equipment, outdated financial and operating procedures, slow technological adaptation and insufficiently efficient capacity utilization. These problems were particularly significant in a field affected by counterfeiting and the need for continually evolving security features. The Expenditure Reforms Commission discussed possible restructuring of the mints and presses in its 2000 report, and Industrial Finance Corporation of India was subsequently engaged to assess the feasibility of corporatization. The Union Cabinet approved formation of the wholly owned corporation on 2 September 2005, leading to incorporation the following year. SPMCIL operates through four principal production areas. Its currency-printing operations include the Currency Note Press at Nashik and the Bank Note Press at Dewas, with additional production lines established at Mysore and Salboni. These facilities perform design, engraving, pre-printing, offset, intaglio, numbering and finishing work. They print Indian banknotes and have also produced currency for selected foreign countries, including Iraq, Nepal, Sri Lanka, Myanmar and Bhutan. The two principal presses are described in the reference material as producing more than 40 percent of the currency notes circulating in India. The Dewas facility also includes an ink factory supplying security-printing inks. The India Security Press in Nashik and the Security Printing Press in Hyderabad produce passports and other travel documents, non-judicial stamp papers, cheques, bonds, warrants, postal stamps, postal stationery and other protected documents. Their capabilities include guilloche patterns, microlettering, ultraviolet and bi-fluorescent inks, optically variable inks, chemical reactivity, micro-perforation, embossing, die-cutting, adhesive applications and personalization. These features help government documents resist alteration, duplication and unauthorized reproduction. SPMCIL's four India Government Mints are located in Mumbai, Kolkata, Hyderabad and Noida. They manufacture circulation coins, commemorative coins, medallions and bullion-related products according to government requirements. The Security Paper Mill at Narmadapuram in Madhya Pradesh, established in 1968, produces specialized paper used for banknotes, non-judicial stamps and passports. The corporation is governed by a board chaired by a Chairman and Managing Director. Its structure includes functional directors responsible for technical operations, finance and human resources, government nominee directors, representatives associated with the Reserve Bank of India, Ministry of External Affairs and Department of Posts, and…

Before SPMCIL was created, India's government currency presses, security presses, mints and security-paper production were operated as separate units under the direct administrative control of the Ministry of Finance and the Department of Economic Affairs. The system included currency-note presses at Nashik and Dewas, security presses at Nashik and Hyderabad, government mints at Mumbai, Kolkata, Hyderabad and Noida, and a security-paper mill at Narmadapuram, formerly known as Hoshangabad. These facilities served essential sovereign functions but were not managed as one corporate production system. The Expenditure Reforms Commission examined the structure of the mints and presses in its third report, dated 23 December 2000. It made several recommendations, including consideration of a corporate structure for India Security Press at Nashik and the four India Government Mints. It also examined possible transfers involving the Department of Posts, the Reserve Bank of India and the two currency-note presses. Some proposed transfers did not proceed: the Reserve Bank of India and Department of Posts did not take over the relevant security presses, while the proposed separation of the security-paper mill was not practicable because of operational and logistical constraints. Subsequent reviews identified structural problems in the existing arrangement. These included low productivity, obsolete technology, outdated financial systems and procedures, and delays in adopting technology needed to respond to counterfeiting risks. The combination of these issues contributed to inefficient use of production capacity and higher costs. Industrial Finance Corporation of India was appointed to study the operations of the nine units and prepare a feasibility assessment for corporatization. The Government of India decided to establish a wholly owned corporation combining all nine units. The Union Cabinet approved the proposal on 2 September 2005, and Security Printing and Minting Corporation of India Limited was incorporated on 13 January 2006. The new entity provided a common governance, finance, human-resources and technical framework for facilities that had previously been administered separately. SPMCIL's operating model is organized around four production verticals: currency printing, security printing, security-paper production and government minting. Currency production is centered on the Currency Note Press at Nashik and the Bank Note Press at Dewas, with additional production lines at Mysore and Salboni. These operations encompass design, engraving, pre-printing, offset and intaglio printing, numbering and finishing. The presses produce Indian currency and have also undertaken selected foreign currency work. Security-printing operations are conducted at the India Security Press in Nashik and the Security Printing Press in Hyderabad. They supply passports, visas and other travel documents, along with non-judicial stamp paper, cheques, bonds, warrants, postage stamps, postal stationery and other protected government products. The facilities use a range of anti-counterfeiting and anti-tampering techniques, including special inks, microtext, guilloche designs, ultraviolet features, optical effects, micro-perforation, embossing, die-cutting and personalization. The four India Government Mints in Mumbai, Kolkata, Hyderabad and Noida manufacture circulation coins, commemorative coins, medallions and bullion-related products. The Security Paper Mill at Narmadapuram, which dates from 1968, produces specialized paper for banknotes, stamps and passports. Together, these units give SPMCIL an integrated role across the physical production chain for India's currency and many of its high-security public documents. The corporation is overseen by a board headed by a Chairman and Managing Director. Functional directors cover technical, financial and human-resources responsibilities, while government nominees, end-user representatives and independent directors provide additional institutional oversight. A Chief Vigilance Officer leads internal vigilance activities, and each production unit is managed by a chief general manager or general manager. SPMCIL remains a state-owned strategic supplier whose principal stakeholders are public authorities rather than retail consumers.

• 2006

  SPMCIL incorporated

  [1]Security Printing and Minting Corporation of Indiaen.wikipedia.org

  Security Printing and Minting Corporation of India Limited was incorporated on 13 January under the Companies Act and registered in New Delhi.

• 2005

  Cabinet approved the wholly owned corporation

  [1]Security Printing and Minting Corporation of Indiaen.wikipedia.org

  The Union Cabinet approved establishment of SPMCIL on 2 September as a consolidated corporate entity for nine government security-production units.

• 2000

  Expenditure Reforms Commission reviewed mints and presses

  [1]Security Printing and Minting Corporation of Indiaen.wikipedia.org

  The commission's third report examined the structure of government mints and security-printing units and recommended exploring corporatization and alternative administrative arrangements.

• 1968

  Security Paper Mill established at Narmadapuram

  [1]Security Printing and Minting Corporation of Indiaen.wikipedia.org

  The security-paper facility at Narmadapuram in Madhya Pradesh was established to produce specialized paper for government security applications, including banknotes, stamps and passports.

A sovereign Indian manufacturing and security-printing organization providing trusted currency, document, paper, ink and coin production for government and institutional requirements.

• Currency printing

  Currency banknotes

  SPMCIL produces banknotes through the Currency Note Press at Nashik and the Bank Note Press at Dewas, supported by additional production lines at Mysore and Salboni. The process includes design, engraving, pre-printing, offset and intaglio printing, numbering and finishing. The presses serve Indian requirements and have also produced banknotes for selected foreign countries.

• Specialty paper · 1968

  Security paper

  The Security Paper Mill at Narmadapuram manufactures specialized paper used for banknotes, non-judicial stamp papers and passports. Its output forms a foundational security layer on which printed and embedded anti-counterfeiting features can be applied.

• Security printing

  Passports and travel documents

  The India Security Press at Nashik and Security Printing Press at Hyderabad produce passports, visas and other travel documents. Their security-printing capabilities include microlettering, guilloche patterns, ultraviolet and bi-fluorescent inks, optical effects, micro-perforation, embossing and personalization.

• Security printing

  Government stamps and protected documents

  SPMCIL's security presses produce non-judicial stamp paper, postage stamps, postal stationery, cheques, bonds, warrants, certificates and related protected products. Production incorporates physical and graphic features intended to make copying, alteration and unauthorized use more difficult.

• Minting

  Circulation and commemorative coins

  The India Government Mints in Mumbai, Kolkata, Hyderabad and Noida manufacture circulation coins, commemorative coins, medallions and bullion-related products according to requirements set by the Government of India.

• Security materials

  Security-printing inks

  The Bank Note Press at Dewas includes an ink factory producing inks used in security-printing applications. The wider security-printing system uses specialized properties such as ultraviolet response, fluorescence and optical variability.

• 2005

  Consolidation and corporatization of nine production unitsStrategy

  Background

  Government reviews identified low productivity, obsolete technology, outdated financial procedures, delayed technological responses to counterfeiting and inefficient capacity utilization among separately administered units.

  Action taken

  The Union Cabinet approved a wholly owned corporation combining two currency presses, two security presses, four mints and one security-paper mill. SPMCIL was incorporated in January 2006.

  Aftermath

  The nine facilities began operating within a common corporate structure covering technical operations, finance, human resources, governance and internal oversight.

  Source

• 2006

  SPMCIL incorporated as a Government of India company[1]Security Printing and Minting Corporation of Indiaen.wikipedia.org

  Other

  The consolidated security-printing and minting organization was incorporated on 13 January 2006 under the Companies Act, with its registered office in New Delhi.

• 2005

  Government of India approved creation of SPMCIL[1]Security Printing and Minting Corporation of Indiaen.wikipedia.org

  Other

  The Union Cabinet approved the formation of a wholly owned corporation to consolidate and corporatize government currency presses, security presses, mints and the security-paper mill.

1. 1Security Printing and Minting Corporation of Indiaen.wikipedia.org