Rs. 1000 note costs government just Rs. 3.73!
RTI reveals Re 1 costs to government 0.78; Rs. 10 note 1.22, Rs. 20 note 1.216 Rs. 50 0.864 Rs. 100 for Rs. 1.51 Rs. 500 Rs. 2.970
New Delhi: Do you know how much a Rs. 1000/ costs to the government thus making whopping money? It is just a meagre amount of Rs. 3.73 paise for government of India to make you rich at this much costs.
A part of complete RTI response on printing currency notes reveal that different public-sector undertakings have different printing-cost and sale-price (to government) for currency-notes. While Reserve Bank of India (RBI) owned Bhartiya Reserve Bank Note Mudran Private Limited (BRBNMPL) sells notes of rupees 10 and 20 at cost of 70 paise and 95 paise, units of central-government owned Security Printing & Minting Corporation of India Limited (SPMCIL) have cost price of these notes at much higher at rupees 1.22 and 1.216! Similar is the difference in price-structure of notes of other denominations in respect of BRBNMPL and SPMCIL.
Central government should study how cost of currency-printing by units of SPMCIL is much higher than that by BRBNMPL.
However cost-reduction in case of one-rupee note has been reduced to .78.5 paise as compared to earlier rupees 1.14 by units of SPMCIL is significant. It is something other that re-issue of one-rupee note after two decades is misuse of bureaucratic power to get these notes signed by a Secretary to Government of India while other notes signed by RBI governor. It is significant that notes of rupees two and five are not re-issued after being discontinued perhaps because these carry signature of RBI governor (and not Secretary to Government of India) like all remaining denomination of notes.
Union government should reduce size of notes for saving on currency-printing. It was last reduced half-a-century ago in April 1967. Also further printing and issuing of one-rupee notes re-issued on 06.03.2015 after a gap of twenty years should be immediately discontinued with existing stock sold as souvenir in plastic packs through all bank-branches (private and public sector), all RBI offices and post-offices.
