Reserve Bank of India (RBI) has informed that a state of the art bank note paper mill with an annual capacity of 12,000 MT is being established at Mysore as a joint venture between Security Printing and Minting Corporation of India Ltd. (SPMCIL) and Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL). It is expected to be commissioned in the year 2015-16. Further, SPMCIL have undertaken expansion of Security Paper Mill, Hoshangabad with the installation of a new paper line of 6000 MT annual capacity. It is expected to start commercial production by early 2015.

This was stated by Shri Jayant Sinha, MoS in the Ministry of Finance in written reply to a question in the Lok Sabha.

Currency note production capacity increased via joint venture mill and security paper mill expansion, boosting domestic banknote supply. A state of the art bank note paper mill is being established at Mysore as a joint venture between Security Printing and Minting Corporation of India Ltd. and Bharatiya Reserve Bank Note Mudran Private Limited to increase domestic banknote paper supply, with planned commissioning in the stated fiscal period. SPMCIL is also expanding the Hoshangabad Security Paper Mill by adding a new paper line to raise production capacity, with commercial production expected in the near term; these plans were disclosed in a parliamentary reply.