India to print notes for Nepal

India may now print currency notes for its Himalayan neighbour, after a public sector company was shortlisted by the Nepal’s national bank.

India may now print currency notes for its Himalayan neighbour, after a public sector company was shortlisted by the Nepal’s national bank.

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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.