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Shocking: Printing of One-Rupee Note costs Rs 1.14!
By: Tupaki Desk | 2 July 2015 12:41 PM GMT
An RTI Query filed by Activist Subhash Chandra Agrawal brought to light that cost incurred to print a One-Rupee Currency Note is Rs 1.14 which is more than its actual value.
The Security Printing and Minting Corporation of India (SPMCIL) which is under Centre revealed the cost that was quoted in the RTI response is subject to audit for financial year 2014-15.
RBI has suspended the printing of One-Rupee Note in the year 1994 because of high printing costs. Even printing of Two-Rupees and Five-Rupees Notes were discontinued for the same reason.
2-decades later, Union Finance Ministry decided to re-introduce the One-Rupee Note and re-issued them from March 6th, 2015. While all the other currency notes bear signature of RBI Governor, One-Rupee Note have the signature of Finance Secretary.
The Security Printing and Minting Corporation of India (SPMCIL) which is under Centre revealed the cost that was quoted in the RTI response is subject to audit for financial year 2014-15.
RBI has suspended the printing of One-Rupee Note in the year 1994 because of high printing costs. Even printing of Two-Rupees and Five-Rupees Notes were discontinued for the same reason.
2-decades later, Union Finance Ministry decided to re-introduce the One-Rupee Note and re-issued them from March 6th, 2015. While all the other currency notes bear signature of RBI Governor, One-Rupee Note have the signature of Finance Secretary.
