SPMCIL initially ran two shifts, each with longer duration, he said.
“But as we went into the process of remonetisation, during the months of November and December, SPMCIL was able to run 24×7, three shifts a day.
“The total quantum of notes which were printed during those days rose exponentially, that helped the government in the process of demonetisation,” he said.
To give pace to remonetisation, SPMCIL airlifted currency notes from its presses at Nasik and Devas to places like Kolkata, Guwahati, Chandigarh, Delhi and Lucknow, he said.
“SPMCIL has become debt-free. This also is an opportunity for the company to leverage this status and look at modernisation of old equipment (and) to increase productivity by replacement of old equipments,” he added.
The government had on November 8, 2016, announced demonetisation of 500 and 1000 rupee notes valued at Rs 15.45 lakh crore or about 86 per cent of the currency in circulation.
It has replaced them with new currency notes of 500 and 2000 rupee denominations.
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(Sourced from agencies, feature image courtesy:oneindia.com)
