About Us
The New Mint at Noida is the first Mint to be established by the Government of India in the post independence period. The Mints at Bombay and Calcutta set up by the British East India Company, were inherited by the India on attaining independence. The Nizams Mint at Hyderabad was taken over by the Government of India after federal financial integration. The Government approved, in principle, during the year 1984 the setting up of a New Mint at Noida with a capacity of 2000 million pieces of coins per annum to meet the gap in demand and supply. Production of coins initially from the stage of coin blanks in Phase I of the Project implementation and addition of blanking facility in Phase II, were envisaged.
The implementation of the Project in two phases was formulated as the setting up of the New Mint was a project of urgency to enable the Government to exercise its sovereign function of minting and making available to the citizen small coins in sufficient number and value essential for their daily life as expeditiously as possible. The project was sanctioned by the Government in January, 1986 at an estimated cost of Rs.30 Crores. The Mint had gone into production with the minting of Stainless Steel Coins for the first increased productivity by installing most modern and sophisticated high speed coining presses with mechanized feeding arrangements, well-equipped tool and die making shop. These Coining Presses were have speed of 600-650 coins per minute. The planning for additional blanking facility in Phas II has not been pursued further.
The Mint has been established within the time schedule - a task fulfilled and a dedication made.
Production targets are fixed on year to year basis based on the indents received from the R.B.I. and this Mint is working in single shift only presently.
At present, Noida Mint is minting foreign coins in addition to domestic coins as and when order is received.
Also, the up gradation of the existing technology is in the continuous process and new generation coining presees are expected shortly for enhanced production
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