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Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman and Union Minister of State for Finance, Shri Pankaj Chaudhary inaugurated the Security Printing and Minting Corporation of India Limited’s (SPMCIL) new corporate office at World Trade Centre, Nauroji Nagar, New Delhi, today.

 

Ms. Anuradha Thakur, Officer on Special Duty (OSD), Department of Economic Affairs (DEA), and other senior officials from the Ministry of Finance, members of SPMCIL Board, senior officers of SPMCIL, and representatives of employee unions were also present.

 

In her keynote address, the Union Finance Minister commended SPMCIL for this significant milestone, and emphasised that the new facility would result in substantial cost savings on lease rentals while also improving administrative efficiency, internal coordination, and employee engagement.

 

Commending the Corporation’s issuance of 210 commemorative coins to date, including 105 in the last decade, and underscored that its souvenir coins  have come to represent Brand India, while serving as prestigious and meaningful gifts that reflect the nation’s rich cultural heritage, Smt. Sitharaman highlighted that SPMCIL’s products, including currency notes, coins, passport paper, postal items, etc. that are integral to the functioning of the nation.

The Union Finance Minister particularly appreciated the souvenir coins themed on the Panchatantra, noting the positive public reception and cultural significance of the collection and also acknowledged SPMCIL’s key role in producing national medals and medallions, including the Bharat Ratna, which represent the highest civilian honours.

 

Smt. Sitharaman also acknowledged SPMCIL’s capabilities in gold and silver refining and its strong financial performance, including entire loan repayments in FY 2016-17 itself, and encouraged SPMCIL to further strengthen its supply chain management.

In his address, the Union Minister of State (MoS) for Finance expressed pride in the corporation’s significant achievements and lauded SPMCIL’s pivotal role in strengthening India's economic and security printing framework while commending its commitment to innovation, self-reliance, and sustainability.

Highlighting SPMCIL’s strong financial performance, Shri Chaudhary underscored its contribution as a model public sector enterprise, including, self-reliance through the indigenous development of banknote ink, passport paper, and other critical security materials. The MoS Finance congratulated the SPMCIL board, management, and employees for their efforts, and encouraged SPMCIL to continue its pursuit of excellence and aspire for Navratna status, reaffirming the support of Ministry of Finance in this journey.

 

In her address on the occasion, Ms. Anuradha Thakur, Officer on Special Duty, DEA, appreciated the significant strides made by SPMCIL in strengthening institutional efficiency and promoting self-reliance. Highlighting SPMCIL’s sound financial performance and good governance practices, Ms. Thakur expressed confidence in the organisation’s continued contribution to the nation’s economic and strategic objectives.

 

In his welcome address on the occasion, SPMCIL Chairman and Managing Director Shri Vijay Ranjan Singh expressed deep gratitude to Union Finance Minister for her inspiring presence, and acknowledged the valued support of MoS Finance and other senior officials of the Ministry of Finance. Shri Singh said that the new office marks a significant milestone in SPMCIL’s growth journey and reflects its commitment to efficiency, innovation, and nation-building. Shri Singh also thanked all dignitaries for their support, reaffirming the company’s commitment to innovation, transparency, and service to the nation.

 

The Union Finance Minister and MoS Finance also distributed awards in recognition of the exemplary performance by employees and operational units for the year 2023–24.

       

   

 

 

The SPMCIL is a Schedule ‘A’ Miniratna Category-I Central Public Sector Enterprise (CPSE) under the administrative control of the Department of Economic Affairs, Ministry of Finance. SPMCIL continues to play a vital role in advancing the Government of India’s Atmanirbhar Bharat initiative by promoting self-reliance, technological advancement, and sustainable development.

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NB/KMN

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