Money print costs around Rs. 636 crores to Government last year

Reserve Bank of India (RBI) gears up for another fresh currency bill. The organization will unveil a brand-new bill for Rs 100 in the markets. The note details are as below:-

Colour – Lavender
Front – Mahatma Gandhi
Rear – Rani Ki Vav (from Gujarat’s Patan)

Also Read: Uttrakhand Government’s new plans and control measures for kanwariyas.

Kaza Sudhakar retired recently from Managing Director position of the Bharatiya Reserve Bank Note Mudran (BRBNM), indicated towards an indigenous process of producing raw materials in India. “This note,” he said, “is designed in India, printed on currency paper made in India. The ink is made in India and even the security features have been made by Indian companies. This is a dream come true.”

It signifies that India has long been importing raw materials from overseas for manufacturing currency bills.

Question bugging everyone is how much does the RBI spend each year on paper and ink?

When asked by Indian Today’s RTI plea, the Currency Note Press (CNP) released the cost data of imported raw materials, which appear surprisingly high.

Money print costs around Rs. 636 crores to Government last year

Money print costs around Rs. 636 crores to Government last year

In 2017-18, the cost of the paper (used for producing INR bill) valued at Rs 493 Crore plus an additional amount of Rs 143 Crore for the ink. Thus, making the overall cost to a total of Rs 636 Crore.

The year before last, when Shri Narendra Modi announced demonetization, the bill printing equalled Rs 584 Crore out of which paper was brought for Rs 366 core and the ink for Rs 218 Crore.

In session 2014-15, the cost of paper solely skyrocketed and added up to Rs 505 Crore, highest in the last decade, revealed by CNP.

Below is the data are given by CNP yearly wise, how much was spent on paper and ink separately. Check yourselves.

Money print costs around Rs. 636 crores to Government last year
Money print costs around Rs. 636 crores to Government last year
Though, CNP declined to disclose the information about dealer importing raw materials. However, if Sudhakar’s sayings turn out to be true, then the manufacturing cost of paper bills will reduce significantly as RBI recently announced “made-in-India” concept for Rs 100 note.

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