Union Minister of State for Finance Shri Pankaj Chaudhary participated virtually in 21st Award Ceremony of Security Printing and Minting Corporation of India Limited (SPMCIL) in New Delhi today

The 21st Award Ceremony of Security Printing and Minting Corporation of India Limited (SPMCIL) was held in New Delhi, celebrating the Corporation's proud tradition of recognising excellence, innovation, and dedication among its officers and employees. The ceremony highlighted SPMCIL's vital contribution to strengthening India's financial and sovereign infrastructure. The Ministry of Finance guides SPMCIL, which has completed two decades of vital national service since its incorporation in 2006.

Source

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Quick Revision

Prelims-testable facts

01SPMCIL is a government-owned corporation responsible for producing secure currency, coinage, passports, and other sovereign products of national importance.
02SPMCIL has nine production units, including four mints, two currency presses, two security presses, and one paper mill.
03The Corporation's role in producing secure products reinforces India's financial and sovereign infrastructure.
04Union Minister of State for Finance Shri Pankaj Chaudhary participated virtually in the 21st Award Ceremony of SPMCIL.
05SPMCIL has completed two decades of vital national service since its incorporation in 2006.
06The dedication, integrity, and innovation of employees remain the pillars of SPMCIL's success.
07The Ministry of Finance provides support to enhance efficiency and governance standards in SPMCIL.

Trap alerts

Most people think SPMCIL is responsible for printing currency only, but actually it produces a wide range of sovereign products, including passports and coinage.
Most people think SPMCIL is a new organization, but actually it has been in operation for over two decades since its incorporation in 2006.
Most people think the Ministry of Finance is not involved in SPMCIL's operations, but actually it provides support to enhance efficiency and governance standards.

Prelims Practice MCQs

Single facteasy

In which year was the Security Printing and Minting Corporation of India Limited (SPMCIL) incorporated?

A.2005
B.2006
C.2007
D.2008

SPMCIL was incorporated in 2006. This is a significant fact as it marks the beginning of SPMCIL's two decades of vital national service.

Multiple statementsmedium

Consider the following statements regarding SPMCIL's Production Units: 1. SPMCIL has 10 production units. 2. SPMCIL has four mints, two currency presses, two security presses, and one paper mill. 3. SPMCIL has five currency presses. How many of the above statements are correct?

A.Only one
B.Only two
C.All three
D.None

The fact list states that SPMCIL has nine production units, with four mints, two currency presses, two security presses, and one paper mill. Statement 1 is incorrect because it claims SPMCIL has 10 production units, which contradicts the fact list. Statement 3 is also incorrect because it claims SPMCIL has five currency presses, whereas the fact list states that it has two currency presses.

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