Finance Minister inaugurated New Bank Note Paper Line unit in Hoshangabad, MP [ Current Affairs ]
Union Finance Minister Arun Jaitley inaugurated the New Bank Note Paper Line unit of 6000 metric tonne capacity at Security Paper Mill in Hoshangabad in Madhya Pradesh. India will become self-reliant in producing Bank Note Paper for big denominations with opening of this unit. Earlier, India was considerably dependent on import of bank note paper for currency of big denominations.
- Finance Minister Arun Jaitley also flagged off the first consignment of one thousand rupees bank note paper made indigenously to Currency Note Press Nashik.
- The project has been completed at a cost of 495 crore rupees within the time schedule and Arun Jaitley also said that another such unit will be soon operationalised in Mysore.
- The plant will help in generating both direct and indirect employment and overall will boost the economy of the state.It is also capable of manufacturing all denominations of Bank Note paper including 1000 rupees.
- This unit is part of the indigenisation of the Bank Note paper under taken by Security Printing and Minting Corporation of India Limited.
- Published on: June 1, 2015