Union Finance Minister Arun Jaitley has inaugurated a New Bank Note Paper Line unit of 6000 metric tonne capacity at Security Paper Mill in Hoshangabad, Madhya Pradesh. On operation of this unit, the nation will become self-reliant in producing Bank Note Paper for big denominations. Earlier, India was considerably dependent on import of bank note paper for currency of big denominations. He also flagged off the first consignment of one thousand rupee bank notes made indigenously from this paper mill to the Currency Note Press Nasik.

Tidbits

• The plant is capable of incorporating the advanced security features into the Bank Note paper.
• The plant is capable of manufacturing all denominations of Bank Note paper including 1000 rupees.
• Plant project has been completed at a cost of 495 crore rupees.
• It is expected that the plant will help in generating both direct and indirect employment and overall will boost the economy of the state.
• The plant is environment friendly with zero liquid discharge.
• Another such unit will be soon operationalised in Mysore.