This company is a Joint Venture between Security Printing & Minting Corporation of India Limited (SPMCIL), a wholly owned Public Sector Undertaking of Government of India under Ministry of Finance and Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), a wholly owned subsidiary of Reserve Bank of India (RBI), engaged in setting up of a Bank Note Paper Mill at Mysore, Karnataka with a capacity of 12000 TPA.
Overall affairs of the company are managed/governed by the Board of Directors headed by a non-executive Chairman. Day to day management is entrusted to Managing Director, who is a whole time director.
The company at present has put in place a committed project team constituting of a few Senior, Middle and Junior level executives who are solely dedicated for implementation of the project.
Civil constructions for the project has commenced at site at Note Mudran Nagar, Mysore. Procurement of Plant, Machineries, Utilities and other facilities are in process. The project is coming up in two phases (with a capacity of 6000TPA in each phase) of which the commissioning of the 1st phase is scheduled in October, 2013 and both the phase by April, 2014.