Formation | 1 July 1988 |
---|---|
Founder | Indian Finance ministry |
Founded at | Noida, Uttar Pradesh, India |
Type | Public sector undertaking |
Legal status | Mint |
Purpose | To mint coins for India and other countries. |
Headquarters | Janpath, Delhi, India |
Location |
|
Coordinates | 28°35′30.4656″N77°18′46.3752″E / 28.591796000°N 77.312882000°E [1] |
Parent organization | SPMCIL |
Subsidiaries | None |
Website | igmnoida |
The India Government Mint, Noida, is one of the four mints in India; based in Noida, in the state of Uttar Pradesh, the mint started production on 1 July 1988 and is the only India Government Mint established since India became an independent country in 1947. [2] It produced the first stainless steel coins in India and aside from producing coins for its home country, it also produces coins for other countries.
In 1984, the Government of India decided to establish a new mint in the India city of Noida, Uttar Pradesh. With an estimated annual production capacity of 2,000 million coins, the new mint was established to cater to the increasing demand for coins in India. In January 1986 the project was started by the Department of Economic Affairs under the Ministry of Finance with a budget of ₹30 crore (equivalent to ₹408 croreorUS$51 million in 2023). The mint was completed on time and began production on 1 July 1988. It produced the first stainless steel coins for India. [3]
Since 13 January 2006, the India Government Mint at Noida has been a part of Security Printing & Minting Corporation of India Limited. It is headed by a board of directors. [4]
Coins minted at the India Government Mint, Noida carries its mint mark of a small or large dot (° or o). [5]
Aside from producing coins for India, the mint has also produced coins for Thailand and Dominican Republic. From April 2012, the mint introduced night-shift production. [3] [2] Before the November 2016 demonetization of INR500 and INR1000 banknotes, the mint produced nearly 40% of the total coins and had an annual target of producing coins worth ₹400 crore (US$50 million). This production was later increased due to shortage of liquid currency. [6]
Uttar Pradesh is a state in northern India. With over 241 million inhabitants, it is the most populated state in India as well as the most populous country subdivision in the world – more populous than all but four other countries outside of India – and accounting for 16.5 percent of the total population of India. It was established in 1950 after India had become a republic. It is a successor to the United Provinces, established in 1935 by renaming the United Provinces of Agra and Oudh, in turn established in 1902 from the North-Western Provinces and the Oudh Province. Lucknow serves as the state capital, with Prayagraj being the judicial capital. The state is divided into 18 divisions and 75 districts. On 9 November 2000, a new state, Uttaranchal, was created from Uttar Pradesh's western Himalayan hill region. The two major rivers of the state, the Ganges and its tributary Yamuna, meet at the Triveni Sangam in Prayagraj, a Hindu pilgrimage site. Other notable rivers are Gomti and Saryu. The forest cover in the state is 6.1 per cent of the state's geographical area. The cultivable area is 82 per cent of the total geographical area, and the net area sown is 68.5 per cent of the cultivable area.
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Greater Noida is a planned city located in the Gautam Buddha Nagar district of the Indian state of Uttar Pradesh. The city was created as an extension of the area under the UP Industrial Area Development Act, of 1976. Situated 30 km (19 mi) southeast of the capital city of New Delhi, it takes around 30 minutes to travel between the cities via the Noida-Greater Noida Expressway. The city is administered by the Greater Noida Industrial Development Authority (GNIDA). It is part of Meerut Division in Uttar Pradesh.
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