Home » national news » Guess how much it costs the RBI to print a single Rs 2,000 note!
 
SPEED NEWS

Guess how much it costs the RBI to print a single Rs 2,000 note!

News Agencies | Updated on: 21 December 2016, 14:12 IST
QUICK PILL

Ever wondered who actually prints the currently elusive currency notes for the Reserve Bank of India (RBI)? Well, it is Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) which prints currency notes for the RBI. The BRBNMPL is a wholly-owned subsidiary of the RBI.

Upon an RTI query of how much the BRBNMPL charges the RBI to print currency notes, the reply was that it charges the central bank Rs 3,090 for printing 1,000 notes of Rs 500, the same as it did for the old Rs 500 note that was withdrawn along with Rs 1,000 notes on 8 November.

For the Rs 2,000 denomination, RBI shells out Rs 3,540 for 1,000 pieces, the same rate as that for the demonetised Rs 1,000 note.

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

The RBI on 19 December 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 bearing the signature of Dr Urjit R Patel, Governor, Reserve Bank of India.

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 in both the number panels.

Prime Minister Narendra Modi had announced the ban on Rs 500 and Rs 1,000 notes on 8 November.

-With PTI inputs

First published: 21 December 2016, 14:12 IST
 
PREVIOUS STORY
NEXT STORY