New Delhi, Jun 9 (PTI) Finance Minister Nirmala Sitharaman on Monday Lauded The Performance of the Security Printing and Minting Corporation of India Limited (Spmcil) and Exposed Confidence THET WILL SOON Become a Navratna State-Owned Company.
Currently, Spmcil, Under the Administrative Control of the Department of Economic Affairs of the Finance Minister, is a Schedule ‘A’ A ‘Miniratna Category-I Company of the government of the government 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 RC 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 for Circulation and Commemorative Co.
She Hoped Spmcil would also Achieve Navratna Status, Given Its Consistent Financial Performance.
Following its capital restructuring in 2015, the company full repaid its loan with interest by 2016-17 and continues to deliver strong returns, Sitharaman Said.
In Fiscal 2023-24, it paid a dividend of 364 Crore, Following a Record Dividend of 534 Crore the Year Before.
In her speech, the finance minister noted that the cpse delivered about 3.4 metric tonnes of refined gold to the reserve bank of India from seizures transferred by the customs.
It also refined silver and gold received from institutions such as tirumala tirupati devasthanams and Vaishno devi shrine board, among others.
During 2024-25, The State-Owned Firm Produced Over 1,200 Crore Banknotes and 150 Crore Circulation Coins as Well as Over 1.5 Crore Passport Booklets and Over 700 Crore Excise Adhesive Labbels, and Various Categories of postal and security-Related stationery essential for government and public services.
“I am equally impressed with the popularity of spmcil’s souvenir coins, which play a significant role in promoting India’s Rich Cultural History, History and Art, Art,” SAID.
Sitharaman noted that in free India’s recorded history, a total of 210 comemorative coins has been is given up of which 105 have ben ised in the last decade, incidence coins 2900th Birth Anniversary of Jain Tirthankar Shri Parshvanath Bhagwan, The 550th Prakash Purab of Guru Nanak Dev, The New Parliament Complex, The 1000 Years of Brihadeeswar TEMPLE, and India.
Over 20,000 coins have been purchased by the public for the new series of color souvenir coins, which have been themed Around Panchatantra, Endangered Species, and the Shri Ram Janmabhoomi team in Ayodhiya.
Speaking during the evcation, minister of state for finance pankaj chaudhary said the government would provide all support all support to the cpses to improve their efficiency and Profitability.