FM Sitharaman launches first colour souvenir coin on ‘Panchatantra’
What is the news:
- Finance Minister Nirmala Sitharaman on Friday launched the first colour souvenir coin on ‘Panchtantra’ on the occasion of 17th foundation day of Security Printing and Minting Corporation of India Limited (SPMCIL).
- 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 stressed on upskilling and acquiring new skills, and upgradation to meet the technology driven economy.
- Further, she emphasized on ramping up the quality of products and to brand SPMCIL as lead producers of currency and other sovereign products.
- The minister was also joined by Economic Affairs Secretary Ajay Seth and other senior officials of the ministry, a finance ministry statement said.
Security Printing and Minting Corporation of India:
- The Security Printing & Minting Corporation of India Ltd. (SPMCIL) is a government printing and minting agency. It is under the jurisdiction of Ministry of Finance , Government of India.
- It was incorporated on 13 January 2006 with its registered office at New Delhi.Â
- The corporation was formed in 2006 as the result of nationalisation of security presses and mints functioning under the Indian Ministry of Finance. It contains nine units, four mints, four presses and a paper mill.
- Is is engaged in manufacturing of currency and banknotes, security paper, non judicial stamp papers, postage stamps and stationery, travel document viz., passport and visa, security certificates, cheques, bonds, warrants, special certificates with security feature, security inks, circulation and commemorative coins, medallions, refining of gold , silver and assay of precious metals , etc.
What is commemorative coin:
- Commemorative coins are issued to mark and honour particular personalities and events.
- They have a distinctive design with reference to the occasion for which they were issued.
- Many coins of this category serve as collector’s items only, although some countries also issue commemorative coins for regular circulation.
When was the first commemorative coin issued in India?
- Republic of India 1950-1957
This series was introduced on 15 August 1950 and represented the first coinage of Republic India. The British King’s portrait was replaced by the Lion Capital of the Ashoka Pillar. A corn sheaf replaced the Tiger on the one rupee coin.
Other related news :
- Security Printing and Minting Corporation of India Limited, under its modernisation initiatives, has set up ‘new bank note printing lines’ at Currency Note Press, Nashik and Bank Note Press, Dewas
Subscribe
0 Comments
