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Coin Minting Resumes Once Again but at a Slow Pace
January 17, 2018
The government has asked Security Printing and Minting Corporation of India Limited (SPMCIL) to resume the production of coins at all of its four mints in Hyderabad, Noida, Mumbai, and Kolkata. However, it has directed them to work on a single shift instead of the usual two.
According to an official, the Reserve Bank of India (RBI) had placed an order of 7,712 million coin pieces to SPMCIL for FY18 of which 5,900 million units have already been produced.
Earlier, the production of coins was reportedly halted because of the lack of space in the RBI vaults that were filled with the demonetized currency notes.
