Saturday, October 20, 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)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
IndiGrid delivers another robust quarter...
Sushma Swaraj calls on Sri Lankan PM...
Deadline for 'Atal Essay Competition' ex...
ISG positions L&T Technology Ser...
Inflationary risks to be felt with calib...
North Korean hacker group stole $571 mn ...
More...
 
INDIA WORLD ASIA
Ex-UK Dy PM to head Facebook's global po...
Criminals on rampage in Chatra and Hazar...
Maoists torch 6 vehicles in Jharkhand...
Devotees allow woman of 52 at Sabarimala...
Ex-UP CM N.D. Tiwari's body flown to Luc...
Amritsar train tragedy was avoidable, ra...
More...    
 
 Top Stories
Rail authorities caution admin agai... 
Four held with heroin worth Rs 2 cr... 
Phagwara immerses in grief as bodie... 
Man who enacted 'Ravana' dies in Am... 
Punjab CM asks Home Secy to prepare... 
Amritsar train tragedy: Navjot Sidh... 
Youth drowns while fishing in water... 
Make law for immediate construction...