Wednesday, April 25, 2018
News

Mints resume coin production, running on single shift

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Kolkata | Saturday, 2018 10:15:04 PM IST
 
State-run mints have resumed minting of coins from Friday after a three-day stoppage following an order of Security Printing and Minting Corporation of India Ltd (SPMCIL) to halt operations, an official said here on Saturday.

The government-owned SPMCIL, had issued an order to all its four mints, located at Kolkata, Noida, Hyderabad and Mumbai, to halt productions of coins. Later workers' union launched a protest and sought intervention of the Union Finance Minister Arun Jaitley.

"All the four mints have started operations from Friday but now we are working only in one shift," Calcutta Mint Employees' Union Vice President Bijan Dey told IANS.

According to him, the production of coins is expected to be ramped up soon as minting of coins is done in two shifts -- day and night and there is demand for it.

"Apparently, it seems that there is a over-supply situation but this may be true for urban areas. Our estimates suggest, there is a substantial demand in rural areas," he said.

Dey said the Reserve Bank of India indented about 771.2 crore pieces of coins of different denominations for this fiscal and the four mints together have so far produced about 590 crore pieces.

About 253 crore coins are yet to be taken by the apex bank, which manages circulation of coins and bank notes.

--IANS bdc/vd

( 232 Words)

2018-01-13-21:54:08 (IANS)

Watch News Videos

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
TRENDING TOPICS
 
 
 
CITY NEWS
MORE CITIES
 
MORE BUSINESS NEWS
Andhra's new tourism pitch: Selling the ...
NITI Aayog to open applications for Atal...
India, Mongolia to jointly combat terror...
OnePlus 6 coming to India on May 17...
61% Indian IT managers clueless how band...
Trump says Mnuchin to travel to China fo...
More...
 
INDIA WORLD ASIA
GM, S.Korea in talks to raise investment...
Two arrested for molesting Indore model...
First four-nation transnational buses re...
Asaram Case Verdict: My life under threa...
6 new faces likely in Assam cabinet...
Leh highway reopens, Kashmir, Mughal r...
More...    
 
 Top Stories
Kangana Ranaut to debut at Cannes r... 
Survival in Bollywood sans PR: An a... 
Deportivo Lara trump Millonarios in... 
5G to herald next wave of satellite... 
Monsoon threatens over a million Ro... 
Asaram Bapu convicted in minor rape... 
McConaughey sends love to Tatum aft... 
Asaram Bapu convicted in minor rape...