Currency printing cost rises 25% to Rs 6,372.8 crore in FY25: RBI

NEW DELHI: Security printing costs rose approximately 25% to Rs 6,372.8 crore in 2024-25 compared to Rs 5,101.4 crore in the previous year, as detailed in the RBI’s annual report released on Thursday.According to the report, the increase was mainly driven by a higher indent for printing banknotes.The circulation of banknotes showed growth in both value and volume by 6% and 5.6% respectively during 2024-25. “During 2024-25, the share of Rs 500 banknotes at 86 per cent, declined marginally in value terms,” stated the RBI’s Annual Report for 2024-25.Rs 500 notes dominated the circulation volume at 40.9 per cent, with Rs 10 notes following at 16.4%. Lower denomination notes (Rs 10, Rs 20 and Rs 50) collectively represented 31.7% of total circulation volume.Following the May 2023 withdrawal announcement of Rs 2000 notes, 98.2% of Rs 3.56 lakh crore has returned to banks by March 31, 2025.Coins in circulation increased by 9.6%in value and 3.6%in volume during 2024-25. E-rupee circulation value surged by 334 per cent. Current circulation includes notes of Rs 2, Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 200, Rs 500 and Rs 2000, alongside CBDC and coins.The RBI has ceased printing Rs 2, Rs 5 and Rs 2000 notes. Circulating coins include denominations from 50 paise to Rs 20.Regarding counterfeits, 4.7% of total Fake Indian Currency Notes were detected at the Reserve Bank during 2024-25. Counterfeit detection decreased for Rs 10, Rs 20, Rs 50, Rs 100 and Rs 2000 notes, whilst increasing by 13.9 and 37.3%for Rs 200 and Rs 500 notes respectively.The RBI continues developing new security features for notes whilst promoting domestic production. “With persistent efforts, all the primary raw materials used for the production of banknotes, i.e., banknote paper, all types of inks (offset, numbering, intaglio and colour-shifting intaglio ink) and all other security features are now being procured from domestic sources,” it added.