As the nation faces a cash crunch, the Bank Note Press located in Dewas town of Madhya Pradesh has decided to print notes of Rs 500 denomination even during lunch hours and holidays. The decision was taken on Thursday by the management of Dewas unit of Security Printing and Minting Corporation of India Ltd. (SPMCIL) and labour unions.
The Bank Note Press Dewas was instructed by the Reserve Bank of India to increase the quantity and speed of printing of Rs 500 notes in view of the current cash crunch all over the country. The Dewas unit is part of SPMCIL, which is a Central Public Sector Enterprise (CPSE).
After an agreement between the labour unions and the management, it has been decided that notes will be printed in three shifts, while lunch would be arranged for workers during shifts. It was also decided to increase the wages when employees worked during lunch hours and holidays.
Meanwhile, Madhya Pradesh got a consignment of Rs 500 crore for ATMs on Thursday. A spokesperson of the State Bank of India said that over 1,700 ATMs out of 3,200 were replenished with cash during the last 24 hours.
Dewas Bank Note press prints notes of Rs 200, Rs 500 and Rs 10 denominations.