Corporation of Press units comes into existence

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Nashik, Nov 1 (UNI) The Corporation of nine printing Press units across the country has come into existence from today.

A decision to convert the nine units into a Corporation was taken by the Union Government on September two, 2005. These nine units include Currency Note Press (CNP), India Security Press (ISP) (both situated here), Bank Note Press (Devas), Security Printing Press (Hyderabad), Government of India Mint (Kolkata), Govt of India Mint (Hyderabad), Security Paper Mill (Hoshangabad), Govt of India Mint (Mumbai) and Govt of India Mint (Noida).

The new entity, 'Security Printing&Minting Corporation of India Limited', was formed on January 13, 2006, whereas all these units were converted into the Corporation today. With this, around 8,500 employees of the CNP and ISP will be the employees of the Corporation from today. The registered headquarters of the Corporation is situated at New Delhi.

The Corporation will undertake various jobs such as printing of stamp papers, security paper, medals, coins, currency notes, bank notes, stamps and passports, besides the day to day administration and production control. While, the Union Finance Ministry will take care of policy decisions regarding security during production of currency notes and coins and administrative control of the company.

Meanwhile, the CNP administration received an order that the 'over time' of the workers will be calculated as per the new rate recommended by the sixth Pay commission. This will come into effect from today, Rambhau Jagtap, general secretary of India Security Press Mazdoor Sangh, told UNI.

''We will make efforts that the order should be implemented for 'over time' since January one, 2006,'' he added.

The CNP produces Nepalese currency notes here. For the first time, currency notes with varnish coating were produced. The first consignment of the currency was delivered to Nepal this month. For getting this job, it had overcome competition from countries such as England, France, Germany, Sweden, Indonesia and Poland.


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