Here's how much it costs RBI to print new notes of Rs 500, Rs 2,000
After the government announced demonetisation of old notes of Rs 500 and Rs 1,000, the Reserve Bank of India (RBI) has fasten up its speed to produce new notes of Rs 500, Rs 1,000 and Rs 2,000 denomination in order to avoid cash shortage into the economy.
Bhartiya Reserve Bank Note Mudran Private Limited (BRBNMPL), a subsidiary of RBI, is the institution helping the central bank to print new notes of Rs 500 and Rs 1,000 denomination, PTI reported on Tuesday.
Bhartiya Reserve Bank Note Mudran is printing each new Rs 500 note at the old cost of Rs 3.09, while the cost of Rs 2,000 currency note is Rs 3.54, the news report said.
According to the report, in response to Right to Information (RTI) application by Neemuch-based Chandrashekhar Gaud, Bhartiya Reserve Bank Note Mudran said it charges RBI Rs 3,090 for printing 1,000 notes of Rs 500, same as that for the demonetised Rs 500 note.
For the printing of Rs 2,000 denomination, the central bank has to shell out Rs 3,540 for 1,000 pieces, the same rate as that for the demonetised of Rs 1,000 note.
Prime Minister Narendra Modi announced demonetisation of old notes of Rs 500 and Rs 1,000 denomination as legal tender on November 8 this year to curb corruption, black money and terrorism.