Check out the cost incurred on RBI to print new Rs 500 and Rs 2,000 notes!!

Photo of the specimen of new currency of Rs 500 and Rs 2,000.

New Delhi: The Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), which prints currency notes, has said that the printing of new currency notes of Rs 500 and Rs 2,000 cost Rs 3.09 and Rs 3.54 respectively.

BRBNMPL, which is totally under the control of RBI (Reserve Bank of India) answered to an Right to Information (RTI) inquiry that it costs them Rs 3,090 for printing 1,000 notes of Rs 500, the same as it did for the old Rs 500 note and Rs 1,000 which now demonetised.

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.

Read:- Rahul Gandhi terms Demonetisation as a money laundering scheme

The Reserve Bank of India stated in a notification that: “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 further stated: “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.”

Prime Minister Narendra Modi had previously announced the demonetisation of Rs 500 and Rs 1,000 notes on November 8 with the motive of flushing out the black money from our country.

Since the demonetisation move, about 86% of the money which was in circulation has been flushed out that means worth Rs 15.44 lakh crore. The government has managed to replace round about Rs 6 lakh crore in new currency so far.

Read:- Kamal Haasan on demonetization: It was mistake on my part