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Coin Production Halted in Light of Storage Issues
January 15, 2018
According to a recent report by a leading media agency, the coin mints in India have stopped the production. This is because the central bank has no space to store them as its vaults are already full of the demonetised currency notes.
The Security Printing and Minting Corporation of India Ltd (SPMCIL) which mints the coins for the Reserve Bank of India, has four mints in Mumbai, Hyderabad, Kolkata, and Noida.
According to the report, the units in Noida and Mumbai have already received the notices from the corporation regarding the stoppage of the coin production.
