An RTI filed by activist Subhash Agarwal regarding currency printing costs, the reply that was received is at best astonishing. It said that two different mints charged different rates for printing the same currency to the Reserve Bank of India.
The 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 government owned 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.
One-rupee note, the printing of 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.
Back in 1994-95 to print Re 1 was costing 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.