SPMCIL is debt-free now

Security Printing and Minting Corporation of India Ltd. (SPMCIL) has become a debt-free company with the wholly-owned public sector undertaking (PSU) repaying the entire amount of loan to the Centre in four yearly equal instalments starting from 2008-09. The last instalment of Rs.175 core was paid on March 23 this year. Incorporated on January 13, 2006, all the nine units of the ‘Miniratna' SPMCIL are engaged in minting of coins and printing of banknotes, passport, postal stationery, non-judicial stamp papers and other security documents and security paper. Meanwhile, the PSU has signed a memorandum of understanding with the Department of Economic Affairs to peg its sales target at Rs.3,050 crore for 2012-13.