Categories: Banking

RBI spent more to print ₹20, ₹50, ₹100, ₹200 notes in FY22

Selling price of bank notes in the denomination of ₹20, ₹50, ₹100 and ₹200 has gone up in FY22. However, for notes in the denomination of ₹500, the prices have remained unchanged.

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Key points:

  • Selling price for 1,000 pieces of ₹50 recorded a maximum increase of around 23 per cent in FY22 over FY21, while that of ₹20 registered the lowest increase of a little over 1 per cent, according to information sourced through RTI from the Bharatiya Reserve Bank Note Mudran Ltd (BRBNML).
  • Although notes of ₹500 denomination are the highest in terms of volume (34.9 per cent of all denomination) among all the paper notes in circulation, and also in terms of value (73.3 per cent of value of all denomination), their selling price has not seen any change in FY22 and FY21.

Interestingly, even as RBI spent ₹4,984.8 crore, which is 24 per cent more than it did in FY21 (₹4,012.09 crore), the total supply was lower. The overall cost of printing currency in FY22 was the second highest, after an all-time high of around ₹8,000 crore during the year of demonetisation (2016-17).

Extra info:

  • There are four presses, of which two are owned by the RBI through its wholly owned subsidiary, BRBNML, while the remaining two come under the ownership of the Central government, operated through its wholly owned company, Security Printing & Minting Corporation of India Limited (SPMCIL).
  • BRBNML presses are situated in Mysuru and Salboni (eastern India).
  • The government-owned presses are at Nasik and Dewas (central India).
  • Coins are minted in four mints owned by the Centre, located in Mumbai, Hyderabad, Calcutta and Noida.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

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