Defence Secretary Giridhar Aramane unveiled a
commemorative Rs 250 coin during the celebration of the 250th anniversary of
Mazagon Dock Limited (MDL) in New Delhi on May 14, 2024. The event, hosted by
MDL, commemorated its evolution from a dry dock in 1774 to a premier naval
shipyard under the Ministry of Defence.
Established as a dry dock in 1774 in Mazagon, Mumbai, MDL became a private limited company
in 1934 and was nationalized in 1960. It holds Mini-Ratna 1 status since 2006 and
specializes in building warships, submarines, and other vessels for the Indian
Navy and Coast Guard. Notably, MDL has constructed 27 warships, 7
submarines, and various other vessels since 1960.
Achievements
1. Midget Submarine Arowana: MDL unveiled the platform design and hull of
the indigenous midget submarine Arowana, serving as a technology demonstrator
for future submarine designs. The successful development of Arowana could lead
to the construction of a full-fledged conventional submarine for the Indian
Navy by 2028.
2. Solar Electric Hybrid Boat: In collaboration with private companies, MDL
introduced a Solar Electric Hybrid boat with impressive features, including a
top speed of 11 knots, significantly reduced running costs compared to diesel
boats, and minimal maintenance requirements.
3. Fuel Cell Electric Ferry SUCHI: MDL launched the 24-passenger Fuel Cell
Electric Ferry named ‘SUCHI,’ designed to operate as a zero-pollution vehicle
with low acoustic signatures, contributing to environmental conservation and
pollution-free waterway transportation.
The Government of India holds the
authority to issue coins and Re 1 notes under the Coinage Act 1906, while the
Reserve Bank of India (RBI) is responsible for circulating coins minted by the
government through banks. The RBI, under the Reserve Bank of India Act 1934, issues currency
notes ranging from Rs 2 to Rs 10,000. Coins in various denominations are minted
by the Government of India at facilities located in Mumbai, Alipore (Kolkata),
Hyderabad, and NOIDA (Uttar Prades
Commemorative coins, bearing unique designs to mark
special events, are issued by the Government of India. These coins are
primarily for collection purposes and are not considered legal tender unless
notified by the government. The
tradition of issuing commemorative coins in India dates back to 1964, with the
release of a coin featuring Jawaharlal Nehru to commemorate his birth
anniversary.