New Delhi, March 16: The cost of printing a new Rs 500 currency note is in the range of Rs 2.87 to Rs 3.09, and Rs 3.54 to Rs 3.77 for a Rs 2,000 note, Parliament was informed on Wednesday.
In a written reply to the Rajya Sabha, Minister of State for Finance Arjun Ram Meghwal informed the house. He wrote, “The approximate cost of printing each note of new Rs 500 currency note is in the range of Rs 2.87 to Rs 3.09 and for a Rs 2,000 note is Rs 3.54 to Rs 3.77.”
However, the minister also pointed out that it would be too early to indicate the total cost of printing of new notes of Rs 500 and Rs 2,000, as they are still being printed.
The currency in circulation as on February 24 was Rs 11.641 lakh crore, Meghwal said.
The old Rs 500 and Rs 1,000 notes returned to the Reserve Bank of India and currency chests amounted to Rs 12.44 lakh crore, as of December 10, 2016.
“Verification of returned notes for counterfeit notes and accounting reconciliation is in process,” he added.