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“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 the old equipment,” he added.
The government had, on November 8, 2016, announced demonetisation of INR 500 and 1,000 currency 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 INR 500 and 2,000 denominations.
From Agencies, Featured image courtesy livemint
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