The RBI spent Rs 4,984.8 crores on the security printing of banknotes bought from printing presses for the fiscal year 2021–2022. Spending was down by roughly 25% from the prior period, coming in at 4,012.1 crores.
According to data obtained through RTI from the Bharatiya Reserve Bank Note Mudran Ltd, the selling price for 1,000 pieces of the 50 rupee note increased by as much as 23% in FY22 over FY21, while the price of the 20 rupee note increased by as little as 1%. (BRBNML). The selling price of notes with a denomination of 500 has remained unchanged in FY22 and FY21 despite the fact that they make up the largest volume (34.9 percent of all denomination) and value (73.3 percent of all denomination) of paper notes in circulation.
Notably, the overall supply of banknotes produced by printing presses BRBNMPL and SPMCIL was somewhat lower this fiscal year than last (2,23,301 lakh pieces in FY21 and 2,22,505 lakh pieces in FY22).
According to an HBL analysis, this over 5,000 crore total cost of printing currency in FY22 was the second-highest ever recorded by the RBI, after only the record-breaking nearly 8,000 crore cost of producing currency during the year of demonetisation (2016–17).
In comparison to the prior financial year, the selling price of banknotes with the denominations of 20, 50, 100, and 200 has increased in FY22. The prices, however, have not altered for that time for notes with a value of 500.
For those who are unaware, selling price refers to the cost at which printing presses sell paper money to the RBI, who is their only customer.
According to details reportedly obtained through RTI from the RBI-owned subsidiary BRBNMPL (Bharatiya Reserve Bank Note Mudran Ltd), which plays a crucial role in the design, printing, and supply of banknotes, the information is from a report in HBL that included the data about the selling price for various banknotes over the past few years.
According to the annual RBI report, only 1.6 percent of the 2,000 rupee notes were in circulation in FY2022, down from 2 percent in FY21 and 2.4 percent in FY20. The HBL report omitted information on their selling price.
