At 78 paise per print, Rs 1 note now profitable

CHENNAI: Two different mints charge the Reserve Bank of India different amounts to print the same currency denominations. This was revealed in replies to an RTI plea filed by RTI activist Subhash Agarwal.

While Bharatiya Reserve Bank Note Mudran Pvt Ltd, an RBI-owned company , prints Rs 10 and Rs 20 notes at a cost of 70 and 95 paise, respectively , the same notes printed by the governmentowned Security Printing and Minting Corporation of India (SPMCIL) cost Rs 1.22 and Rs 1.216, respectively.

The cost of printing Re 1 notes at the SPMCIL has come down from Rs 1.14 per unit to 78.5 paise due to better use of technology . The printing of one-rupee notes, which was discontinued in 1994 because of high printing cost, is now costing less, the RBI has revealed. The currency is printed by the SPMCIL.

The cost of printing Re 1 notes in 1994-95 was Rs 1.48 a note and when reintroduced, the cost came down to Rs 1.14 and now it has reduced below its nomination value to 78.5 paise.