Bank notes' printing cost rose to Rs 80 billion in FY17, says govt

Asked about the durability of new Rs 500 and Rs 2000 bank notes, Minister of State for Finance Pon Radhakrishnan said these notes are expected to have normal life as that of older currencies

The cost of printing currency notes escalated to Rs 79.65 billion in 2016-17, the year when the government had banned the high-value 500 and 1,000 rupee bills, the government informed the Parliament on Tuesday.
 
Also, the printing cost came down to a substantial Rs 49.12 billion in the following year 2017-18 when the RBI had sufficed the shortage of bank notes which was caused due to the government's demonetisation move.
 
The expenditure on printing of notes during 2015-16 (the year prior to demonetisation) was Rs 34.21 billion, Finance Minister Arun Jaitley said in a written reply to the