News This Is How Much It Costs The RBI To Print The New...

This Is How Much It Costs The RBI To Print The New Rs 500 and Rs 2000 Note

According to the  Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) the printing cost of the new Rs 500 note is Rs 3.09 whereas the new Rs 2000 note costs Rs 3.54.

Image Source : The Economic Times

BRBNMPL which is a wholly owned subsidary of the Reserve Bank Of India (RBI) informed this in a reply to an RTI ( Right To Information) query that it charges the central bank Rs 3,090 for printing thousand Rs 500 notes. This is the same amount which it charged for printing the old Rs 500 note which was recently demonetised along with the Rs 1000 note.

That’s same in the case of the new Rs 2000 notes. The RBI shells out Rs 3,540 for thousand pieces which is the same that was for the old Rs 1000 note.

The central bank on Monday said it is issuing a new batch of Rs 500 notes in the Mahatma Gandhi (New) series with the inset letter ‘R’ in both the number panels.

“In continuation of issuing of Rs 500 denomination banknotes in Mahatma Gandhi (new) series which are currently legal tender, a new batch of banknotes with inset letter ‘R’ in both the number panels, bearing the signature of Dr Urjit R Patel Governor, Reserve Bank of India, with the year of printing ‘2016’ are being issued,” RBI said in a notification.

cost of printing new indian currency notes

The Reserve Bank also said it will shortly issue Rs 50 denomination notes in the Mahatma Gandhi Series-2005, with the letters ‘R’ and ‘L’ inserted both the number panels.

“These banknotes (Rs 50 notes with insert letter L and R) have the ascending size of numerals in the number panels; the banknotes are similar to the banknotes of Rs 50 issued earlier in Mahatma Gandhi Series-2005,” the RBI said.

Prime Minister Narendra Modi had announced the ban on 500 and 1000 rupee notes on November 8 in a move aimed at eliminating money laundering and black or untaxed money.

It wiped out 86 per cent of the money in circulation worth Rs 15.44 lakh crore. The government has so far replaced about 6 lakh crore in new currency.

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