India to print currency notes for Nepal
11 08 2007Security Printing and Minting Corporation of India, based in Wardha, Maharashtra, is among the 11 pre-qualifying companies selected by Nepal Rastra Bank (NRB) to print 100 and 50-rupee notes worth Nepali Rs.100 million.
A government-owned company (under Ministry of Finance), the SPMC is engaged in the manufacture of security papers, currency and bank notes, non-judicial stamps paper, postage stamps and minting of coins. So far, Nepal was printing its paper currencies mostly in the western European countries. This is the first time that an Indian firm is trying to enter the currency printing sector in Nepal. The other firms in the fray are from Canada, China, Sweden, Germany, the Netherlands, Poland, Spain and Indonesia.
Source: http://newspostindia.com/report-10635
