11-Feb-2022: SPMCIL celebrates 17th Foundation Day
Security Printing and Minting Corporation of India Limited (SPMCIL) celebrated its 17th Foundation Day programme today through the digital mode.
Union Finance Minister, Smt. Nirmala Sitharaman chaired the programme via virtual mode in the presence of Secretary, Department of Economic Affairs (DEA), Ministry of Finance (MoF), Senior Economic Advisor, DEA, MoF and other senior officials from Ministry and Director (HR) & Director (Finance) of SPMCIL.
Union Finance Minister Smt. Nirmala also launched the first colour souvenir coin on “Panchatantra” during the occasion.
Ms. Tripti Patra Ghosh, CMD, SPMCIL, in her welcome address highlighted the achievements and the innovative initiatives of the Company.
During the occasion, the Chief General Managers of the respective 09 Units awarded the meritorious employees for their outstanding achievements.
The Finance Minister in her address laid stress on upskilling and acquiring new skills, and upgradation to meet the technology driven economy. Further she emphasized on ramping up of quality of products and to brand SPMCIL as lead producers of currency and other sovereign products.
28-Jan-2022: SPMCIL sets up New Bank Note Printing Lines each at Currency Note Press, Nashik and Bank Note Press, Dewas
Security Printing and Minting Corporation of India Limited (SPMCIL) under its modernization initiatives has set up New Bank Note Printing Lines each at Currency Note Press, Nashik and Bank Note Press, Dewas.
On 27 January, 2022, the inauguration of new bank note printing line at CNP Nashik was done by Smt. Meera Swarup, Special Secretary & Financial Adviser, Ministry of Finance, and for the new bank note printing line at Bank Note Press, Dewas inauguration was done by Sh. Shashank Saksena, Sr. Economic Adviser, Department of Economic Affairs, Ministry of Finance, through virtual mode in the presence of Member of Parliament Sh. Hemant Tukaram Godse from Nashik constituency; Smt. Tripti Patra Ghosh, Chairman and Managing Director, SPMCIL; Sh. S.K. Sinha, Director (HR), SPMCIL; Sh. Vinay Kumar Singh, CVO, SPMCIL; Sh. Rajesh Bansal, Chief General Manager, BNP Dewas and Sh. Bolewar Babu, Chief General Manager, CNP Nashik.
17-Jan-2022: Minister Shri Pralhad Joshi Launches New Rehabilitation & Resettlement Policy of NLC India Ltd
Union Minister of Coal, Mines and Parliamentary Affairs Shri Pralhad Joshi said that NLC India Ltd, a Navratna public sector enterprise under the Ministry of Coal has been playing a pivotal role in ensuring India’s energy security during the last six decades of performance. The Minister was virtually launching the new rehabilitation & resettlement (R& R) policy applicable to land owners of NLCIL mines area. Lauding the efforts of NLCIL and Tamil Nadu Government in framing a very flexible rehabilitation policy with multiple options available to the affected people, Minister Shri Joshi ensured that compensation to the affected villagers will be based on fair and transparent process.
The Minister said that the new policy has provisions for enhanced amenities to project effected families. Shri Joshi pointed out that NLCL has signed an MOU with Tamil Nadu government to impart skill development to the youth under Skill India Mission. The Minister stated that the new RR policy will pave the way for sustainable livelihood and make every village Atma Nirbhar.
Addressing the function virtually, the Minister of state for Coal, Mines and Railways Shri Raosaheb Patil Danve said that besides benefitting the villagers, the policy will lead to further increase in energy production by NLCIL. Shri M.R. K Panneerselvam, Minister for Agriculture and Farmers Welfare and Shri C.V. Ganesan, Minister for Labour Welfare and Skill Development, Government of Tamil Nadu also attended the function and urged NLCIL to implement the new policy effectively to benefit the villagers. MPs, MLAs, senior functionaries of the Ministry of Coal, NLCL and the villagers also attended the function.
As a socially responsible corporate, NLC initiates proactive steps to address the welfare of all stakeholders especially project affected people through Rehabilitation & Resettlement initiatives, CSR schemes and welfare measures like skill development, water resource augmentation and various other measures.
NLCIL commenced its operations in Tamil Nadu way back in 1956 in lignite mining and lignite based power generation. Over a period of more than six decades, the company has diversified into coal based Power Generation, Renewable Power Primarily Solar and Coal Mining. In this process, the Company has made PAN India presence with 50.60 MTPA mining and 6,061 MW power generating capacity.
23-Nov-2021: Release of Crude Oil from Indian Strategic Petroleum Reserves
India strongly believes that the pricing of liquid hydrocarbons should be reasonable, responsible and be determined by market forces. India has repeatedly expressed concern at supply of oil being artificially adjusted below demand levels by oil producing countries, leading to rising prices and negative attendant consequences.
India has agreed to release 5 million barrels of crude oil from its Strategic Petroleum Reserves. This release will happen in parallel and in consultation with other major global energy consumers including the USA, People’s Republic of China, Japan and the Republic of Korea.
Hon’ble Prime Minister Modi has been consistently reviewing the high petroleum/diesel prices domestically. In a bid to control inflationary pressures, Government of India had reduced the ‘central excise duty’ on petrol and diesel by Rs. 5 and Rs. 10 respectively on 3 November 2021. It was followed by reduction in VAT on fuel by many state governments. These difficult steps, despite the high fiscal burden on the Government, were taken in order to provide relief to citizens.
12-Nov-2018: ISPRL Signs Memorandum of Understanding with ADNOC to explore storage of Crude Oil at Padur Underground Facility in Karnataka.
Indian Strategic Petroleum Reserves Ltd(ISPRL) signed today a Memorandum of Understanding (MoU) in Abu Dhabi with the Abu Dhabi National Oil Company (ADNOC) to explore the possibility of storing ADNOC crude oil at ISPRL’s underground oil storage facility at Padur in Karnataka, which has a 2.5 million tonne capacity. Under the MoU, ADNOC is expected to store crude in compartments at Padur.
The MoU with ISPRL, an Indian government-owned company mandated to store crude oil for emergency needs, follows the arrival, on November 4, of the final shipment of the initial delivery of ADNOC crude to be stored in another ISPRL underground facility at Mangalore, also in Karnataka, which will store 5.86 million barrels of ADNOC crude oil.
ADNOC is the only foreign oil and gas company, so far, to invest by way of crude oil in India’s strategic petroleum reserves program.
ISPRL has already built 5.33 million tonnes of underground storage capacity at three locations - Visakhapatnam (1.33 million tonnes), Mangalore (1.5 million tonnes) and Padur (2.5 million tonnes), that can meet around 9.5 days of the country’s oil needs as per consumption data of last financial year. The government of India, in June 2018, announced the creation of two new reserves, a 4 million tonnes storage facility at Chandikhol in the eastern state of Odisha and an additional 2.5 million-tonne facility at Padur.
The existing and newly announced strategic reserve facilities put together will provide around 21 days of emergency coverage for India’s crude oil requirements.