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Know the cost of printing new Rs 500 and Rs 2,000 notes

India TV Politics Desk New Delhi 16 Mar 2017, 13:18:45 IST
India TV Politics Desk

Notes are printed at four printing presses located at Nashik (Maharashtra), Dewas (Madhya Pradesh), Mysore (Karnataka) and Salboni (West Bengal). But do you know how much it actually costs the government to print a note of Rs 2000 and Rs 500? 

According to the government’s reply in the Parliament on Wednesday, the cost of printing a new Rs 500 currency note is in the range of Rs 2.87 to Rs 3.09, and Rs 3.54 to Rs 3.77 for a Rs 2,000 note.

"The approximate cost of printing each note of new Rs 500 currency note is in the range of Rs 2.87 to Rs 3.09 and for a Rs 2,000 note is Rs 3.54 to Rs 3.77," Minister of State for Finance Arjun Ram Meghwal said in a written reply in the Rajya Sabha.

The minister, however, said that it was too early to indicate the total cost of printing of new notes of Rs 500 and Rs 2,000, as those were still being printed. 

The currency in circulation as on February 24 was Rs 11.641 lakh crore, Meghwal said.

The old Rs 500 and Rs 1,000 notes returned to the Reserve Bank of India (RBI) and currency chests amounted to Rs 12.44 lakh crore, as of December 10, 2016. 

"Verification of returned notes for counterfeit notes and accounting reconciliation is in process," he added.

With IANS Inputs