Different mints charge different rates for printing notes of the same denominations, an RTI reply said.

For first time in 20 years printing Re 1 note is profitableGovt Mint via Wikimedia Commons
news Currency Monday, November 07, 2016 - 16:33

An RTI query on the cost of printing currency in India has found that different mints charge different rates for printing notes of the same denominations. 

The response to the RTI filed by activist Subhash Agarwal revealed that the cost of printing Rs 10 and Rs 20 notes by the RBI-owned Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was 70p and 95p per note respectively. 

On the other hand, the cost of printing the same notes at the central government-owned Security Printing & Minting Corporation of India Limited (SPMCIL) was Rs 1.22 and Rs 1.21. 

The response also revealed that cost of printing Re 1 notes has fallen to 78p finally making it profitable to print notes of the denomination. 

When printing of the Re 1 note was discontinued in 1994, the cost of printing stood at Rs 1.48 per note. When the note was reintroduced in March this year, it cost Rs 1.14 per note. Due to improvements in technology, it has finally dropped to the level where it is profitable to print. 

“The Centre should study how the cost of currency printing by SPMCIL is much higher than that of BRBNMPL,” Sunday Guardian quoted Agarwal as saying.

Screengrab/ Sunday Guardian

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