Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, today inaugurated the new corporate office of the Security Printing and Minting Corporation of India Limited (SPMCIL) at the World Trade Centre, Nauroji Nagar, New Delhi. The event was also graced by Union Minister of State for Finance, Shri Pankaj Chaudhary, along with several dignitaries from the Ministry of Finance, SPMCIL Board, and employee representatives.
A Strategic Milestone in SPMCIL’s Journey
In her keynote address, Smt. Sitharaman described the new office as a landmark development that will improve administrative efficiency, reduce lease costs, and foster stronger coordination among departments. She commended SPMCIL’s key role in India’s economic and security printing infrastructure and emphasized its significance in producing currency notes, coins, postal items, passport paper, and other critical materials integral to the country’s functioning.
Brand India Through Commemorative Coins
The Finance Minister highlighted the issuance of 210 commemorative coins, including 105 in the past decade, noting their growing cultural and symbolic significance. She praised the souvenir coins themed on the Panchatantra for their appeal and cultural impact, saying they have become synonymous with Brand India. Additionally, Smt. Sitharaman acknowledged SPMCIL’s role in producing prestigious national medals such as the Bharat Ratna.
Championing Self-Reliance and Efficiency
SPMCIL’s contributions toward the Atmanirbhar Bharat initiative were a major theme throughout the event. Smt. Sitharaman noted its success in areas such as indigenous development of banknote ink, gold and silver refining, and self-financed operations, including complete loan repayment by FY 2016-17.
Remarks by MoS Finance: Pankaj Chaudhary
Shri Pankaj Chaudhary, MoS Finance, called SPMCIL a model public sector enterprise, applauding its innovative practices and commitment to sustainability and efficiency. He underscored the corporation’s vital role in strengthening India’s security printing and encouraged the pursuit of Navratna status, reiterating the full support of the Ministry of Finance in this endeavor.
Insights from DEA’s Anuradha Thakur
Ms. Anuradha Thakur, Officer on Special Duty, Department of Economic Affairs (DEA), appreciated the strong institutional efficiency and good governance practices displayed by SPMCIL. She emphasized the organization’s growing strategic relevance and expressed confidence in its continued impact on the country’s economic progress.
SPMCIL CMD Reflects on Growth and Vision
SPMCIL Chairman and Managing Director Shri Vijay Ranjan Singh welcomed dignitaries and expressed gratitude for the presence of senior leaders. He described the new office as a symbol of progress, reflecting SPMCIL’s commitment to innovation, transparency, and national service. Shri Singh reaffirmed the corporation’s dedication to nation-building and technological excellence.
Employee Awards and Recognition
As part of the event, the Union Finance Minister and MoS Finance presented awards to SPMCIL employees and operational units for their exceptional contributions during the 2023–24 fiscal year, reinforcing a culture of recognition and performance excellence.
About SPMCIL
SPMCIL is a Miniratna Category-I CPSE under the Department of Economic Affairs, Ministry of Finance. As a Schedule ‘A’ enterprise, it plays a pivotal role in India’s financial and national security systems. Through its commitment to self-reliance, innovation, and sustainable development, SPMCIL is a cornerstone of the Government of India’s Atmanirbhar Bharat vision.
