1. Home
  2.  |  
  3. Economy Current Affairs |  

Finance Minister inaugurated new Bank Note Paper Line unit in Hoshangabad, MP

May 30, 2015 15:45 IST

Union Finance Minister Arun Jaitley on 30 May 2015 inaugurated the new Bank Note Paper Line unit of 6000 metric tonne capacity at Security Paper Mill in Hoshangabad, Madhya Pradesh.

With opening of this, India will become self-reliant in producing Bank Note Paper for big denominations. Earlier, India was considerably dependent on import of bank note paper for currency of big denominations.

He also flagged off the first consignment of one thousand rupees bank note paper made indigenously to Currency Note Press Nashik.

It is part of the indigenisation of the Bank Note paper under taken by Security Printing and Minting Corporation of India Limited. The project has been completed at a cost of 495 crore rupees within the time schedule.

The plant is capable of incorporating the advanced security features into the Bank Note paper. It is also capable of manufacturing all denominations of Bank Note paper including 1000 rupees.

It is expected that the plant will help in generating both direct and indirect employment and overall will boost the economy of the state.

Another such unit will be soon operationalised in Mysore.

Now get latest Current Affairs on mobile, Download # 1  Current Affairs App

Is this article important for exams ? Yes52 People Agreed

DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

Latest Videos

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK