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SPMCIL pays dividend of Rs 218 cr to govt

SPMCIL a Miniratna PSU that is responsible for printing currency notes and minting coins in India, paid a dividend of Rs 218.48 crores to the Centre

PSU Watch Bureau

New Delhi: Security Printing and Minting Corporation of India Limited (SPMCIL), a Miniratna PSU that is responsible for printing currency notes and minting coins in India, paid a dividend of Rs 218.48 crores to the Centre on Friday. It falls under the administrative control of Department of Economic Affairs (DEA), Ministry of Finance.

SPMCIL presents dividend cheque to Finance Minister

The dividend cheque was presented to Union Minister of Finance Nirmala Sitharaman by Tripti P Ghosh, CMD, SPMCIL, along with Ajay Agarwal, Director (Finance), SPMCIL, in the presence of Atanu Chakraborty, Secretary, DEA, and Meera Swarup, Additional Secretary & Financial Advisor, Ministry of Finance.

The backdrop

SPMCIL has achieved the targets in the production of Bank Notes, Coins, Security Paper, Passports, Security Inks and other Security Products during the year 2018-19. SPMCIL has produced 10,482.34 million pieces of Bank Notes, 5,331 million pieces of circulating coins, 6,003 Metric Ton (MT) Security Paper, 752 Metric Tonnes (MT) of security inks in 2018-19. The revenue from operations of SPMCIL increased to Rs 5,711.34 crores and Profit before Tax (PBT) stands at Rs 815.18 crores for financial year 2018-19.

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