On November 8, the government of India demonetized the old currency notes of Rs. 500 and Rs. 1,000 denominations and came out with new notes of Rs. 500 and Rs. 2,000. The move has been taken in order to curb the problem of black money, corruption and anti-terror funding.
But have you ever thought as to what is the price that RBI has to pay for each new note of Rs. 500 and Rs. 2,000?
The new notes are being printed at Bhartiya Reserve Bank Note Mudran Private Limited (BRBNMPL) which is Reserve Bank of India’s subsidiary.
In response to an RTI filed by Chandrashekhar Gaud from Neemuch, BRBNMPL has stated that it is charging Rs. 3090/1000 notes of Rs. 500 denomination, which means that for a new note of Rs. 500, RBI is paying Rs. 3.09, the same amount which it was paying for the old one.
BRBNMPL also revealed that for every new note of Rs. 2,000, RBI is paying Rs. 3.54, the same amount which it used to pay for the old note of Rs. 1,000.
Well, that is also a big expense that the government is making so we hope that demonetization brings fruitful results! What do you say guys?
