RBI spends more on printing Rs 1000 note than on printing Rs 5 note

Published: Monday, January 2, 2012, 22:33 [IST]
 
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The Reserve Bank of India (RBI) spent Rs 2,376 crore on printing currency notes of 16.5 billion of different denominations last year.

Interestingly, compared to the value of the note, Rs 1,000 notes costs the slightest, Rs. 3.17 for printing per note while the five-rupee notes, the smallest in size and denomination overheads the highest 48 paise per note.

The number of minted notes has increased constantly over the times. As per the annual report of RBI for 2010-2011, during 2009-10 and 2010-11 the inflation stayed high customarily in double digits in regard to commodities, like food grain, pulses, fruits, vegetables, and milk. The transactions remained cash sensitive during the period.

The size of currency notes have got reduced in size over time, this has been attributed mainly to the increasing price of paper by scholars. Paper has a greater segment in note making. RBI however, has strived to maintain different colors and dimensions for notes of diverse denominators, unlike most other nations, like the US where all the notes are unvaryingly sized and of the same color.

Since 1862 to 1935, India had one-color notes printed only on one side. RBI has changed the trend by introducing a color scheme for notes or bills. This has been done to make it simple for the illiterate population to distinguish between notes of diverse denominators. RBI even got the involvement of visually challenged on board before finalizing the design of the notes.

Dion Global Solutions Ltd

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