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Tag: One Rupee Note

Cost of Printing a One-Rupee Currency note is More Then Its Value@Rs1.14

[New Delhi] Cost of Printing a One-Rupee Currency note is More Then Its Value @Rs1.14 Inquiry Demanded
The cost of printing one rupee note, which was recently re-introduced after a gap of 20 years, is Rs 1.14, more than its value
The Security Printing and Minting Corporation of India (SPMCIL), under the central government, said in a RTI response that the cost is subject to audit, which is in progress, for financial year 2014-15. This RTI Was filed by activist Subhash Chandra Agrawal.
The printing of one-rupee notes was discontinued in 1994 because of high printing cost as compared to their lives.
Similarly, the notes of two-rupees and five-rupees denominations were subsequently discontinued for the same reason, Agrawal said.
The denominations have been coinised.
However, the Union Finance Ministry subsequent to a gazette-notification dated December 16, 2014 ultimately re-issued one-rupee notes on March 6, 2015 at Shrinathji Temple (Nathdwara), Rajasthan
Unlike other currency notes which the bear signature of RBI Governor, the one rupee note has signature of the Finance Secretary, and Agrawal demanded an enquiry into the “retrogressive” step.