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Reviewed by Jan 12, 2023| Updated on
In economics, cash, such as banknotes and coins, is money in the physical form of currency. Cash is current assets in bookkeeping and finance, with currency or currency equivalents that can be accessed immediately or near-immediately.
Security Printing & Minting Corporation India Ltd (SPMCIL) is a Mini Ratna Central Public Sector Enterprise (CPSE). It is wholly owned by the Government of India, i.e. Schedule "A" Company of the Government of India and was incorporated with its registered office in New Delhi on 13 January 2006.
The corporation is engaged in the production/manufacture of currency and banknotes, security paper, non-judicial stamp papers, postal stamps & stationery, travel documents, passport and visa, security certificates, cheques, bonds, warrants, etc.
SPMCIL is comprised of two currency printing presses: Currency Note Press (CNP) in Nashik and Bank Note Press (BNP) in Dewas. The two units are engaged in the manufacture of banknotes for India as well as several foreign countries, including Iraq, Nepal, Sri Lanka, Myanmar, and Bhutan.
The two units print over 40 per cent of the currency notes circulated in India. Such systems are fitted with facilities for drafting, gravure, full pre-printing and offset, intaglio printing machines, numeration and finishing machines, etc.
The CNP was founded in 1928 as the first printing press for banknotes in India. After demonetisation of the old Rs.500 and Rs.1000 notes, they are currently responsible for printing the new Rs.500 notes.
Currency is also printed by two presses of Bharatiya Reserve Bank Note Mudran Private Limited, a wholly-owned Reserve Bank of India subsidiary. They are responsible for printing the new Rs.2000 notes, and speculations say that printing the Rs.500 notes will also move to those presses for better speed and fewer errors. BNP also has an ink factory which produces safety printing inks.