Independent India's first Mint
Many of us don't know that, there are 4 mints of our country. Noida was the first mint established after independence in our country (india) in the year 1984. Not only this, 40 percent of the total coins made in the country are minted here. Foreign coins have also been made here. To know more interesting things related to the mint.
Currently, 1₹, 2₹, 5₹ and 10₹ rupees coin is being made in the mint of Noida.
Earlier, after 1988, all the coins which were in circulation as the currency of the country were made in this mint. These included all kinds of coins including 5 paise to 10 paise, 20 paise, 25 paise, 50 paise.
Earlier there was no mint available in North India. But, After independence, the mint was first established in Noida in the country. At that time, coins were being produced from a total of 3 mints in Kolkata, Mumbai and Hyderabad. With no mint in North India, Noida was chosen for its establishment. This ensured mint in all four parts of the country, which led to better supply of coins to the entire country.
Coins started being made in Noida since 1988
To meet the demand for coins in the country, in the year 1984, the Government of India decided to establish a mint in Noida. At that time the annual production capacity of coins in this mint was fixed at 2000 million. The construction of the project started in January 1986 at its own scheduled time under the participation of the Government of India, Ministry of Finance and Department of Economic Affairs. Its estimated cost was a total of Rs 30 crore. From July 1, 1988, regular production of coins started in this mint. Stainless steel was used here for the first time for the manufacture of coins. After incorporation, this mint has been functioning as a unit of Bharat Securities Printing and Mudra Nirman Nigam Limited since January 13, 2006.
Noida's mint contributes about 40% of the total coins produced in the country. The remaining 60% of the coins are manufactured at the mint in Kolkata, Mumbai, Hyderabad. It employs about 300 employees. Hygiene and security system are given the most attention in the mint.
Foreign coins were also minted
In 2006, Noida's mint also produced Thailand coinage and 10 paise coinage from the Dominican Republic. The coin of these 2 countries was made here. Coins from abroad can still be produced here, but the Government of India has no agreement with any country in this regard.
Coins started being manufactured 24 hours from 2012
In view of the increasing demand for coins in the country, this mint started production of coins 24 hours from the year 2012. Earlier, coins were produced only during day time. After this, the production capacity of this mint was doubled from 2015.
At present, the mint has an annual production capacity of 4000 million coins, while the figure before was 2000 million per year. In 2016-17, the mint produced 3922 million coins and made a world record.
26 machines are engaged for manufacture of coins
The country's fourth mint in Noida has 26 machines installed to mint coins. Due to high production and low demand, not a single coin was raised by the Reserve Bank of India during the last 3 months. Because of this, the mint had a pile of 1310 million coins. As such, production was stopped from 9 January2018 onwards. From 12 January 2018, coins were started again on 15 machines.