India may now print currency notes for its Himalayan neighbour, after a public sector company was shortlisted by the Nepal’s national bank.
India’s Security Printing and Minting Corporation (SPMC) is now in the fray to print paper currencies for Nepal. The Indian security printer is among the 11 companies short-listed by the Nepal Rashtra Bank to print Rs 100 and 50 denomination notes.
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.