“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,” Minister of State for Finance Arjun Ram Meghwal said here in a written reply in the Rajya Sabha.
The minister, however, said that it was too early to indicate the total cost of printing of new notes of Rs 500 and Rs 2,000, as those were 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.