Finance Minister Hails SPMCIL's Impressive Strides Toward Navratna Status

Finance Minister Nirmala Sitharaman has commended the Security Printing and Minting Corporation of India Limited (SPMCIL) for its excellent financial performance, signaling its potential elevation to Navratna status. As a Schedule 'A' Miniratna Category-I company, SPMCIL falls under the purview of the Finance Ministry's Department of Economic Affairs.

Having undertaken capital restructuring in 2015 and repaid its loans by 2016-17, SPMCIL has maintained strong financial returns, including a dividend of Rs 364 crore in fiscal 2023-24. The minister highlighted its diverse legal-tender and commemorative coin production and services, underscoring its pivotal role in promoting India's cultural heritage.

The corporation's achievements were further endorsed by Minister of State for Finance Pankaj Chaudhary, who pledged continued government support to enhance the performance of CPSEs like SPMCIL. This endorsement also reflects SPMCIL's broader contributions to public services and economic infrastructure.

(With inputs from agencies.)