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Tuesday, July 20, 2010

2 Rupees Indian Banknote

This banknote was first issued  on  16th April 1976 and it bore the signature of   K. R. Puri , a member of the Indian Civil Service ,Governor Reserve Bank of India since 20th August 1975 to 21st May 1977.He was the Chairman and Managing Director of the Life Insurance Corporation of India prior to his appointment as Governor of the RBI .This note shown above is a 1985 banknote and  it contains the signature of  R. N. Malhotra.R. N. Malhotra was the seventeenth governor of the Reserve Bank of India, serving from 4 February 1985 to 22 December 1990.This banknote is the smallest denomination banknote issued by the RBI.

               

The size of this banknote is 107 X 63 mm.On one side of the banknote  we can see the value in Hindi left bottom, Reserve Bank of India monogram  on top right hand side .The watermark  is in a Oval shape window, Askokan Pillar is used  as watermark with 6 wheels in background.Two rupees is written in13  Regional language on front of the Banknote.On the front side these words are signed by the Governor of the RBI."I promise to pay the bearer the sum of two rupees" in english and Hindi.On the reverse side we have the image of Indian Satellite ' Aryabhata 'in space.Aryabhata was India's first satellite, named after the great Indian astronomer of the same name. It was launched by the Soviet Union on 19 April 1975 from Kapustin Yar using a Cosmos-3M launch vehicle.To commemorate this achievement this image was printed on the two rupees note.

The cost of printing and servicing these notes was,  not commensurate with their life. Printing of these notes was, therefore, discontinued.Production of 2 Rupees denomination was discontinued since February 1995 by Government of India

Thursday, July 15, 2010

News:Cabinet approves new rupee symbol

The Union Cabinet on Thursday approved the new symbol for the Indian rupee - an amalgam of the Devnagiri 'Ra' and the Roman capital 'R' without the stem.
The symbol, designed by an Indian Institute of Technology (IIT) postgraduate D Udaya Kumar, was selected from among five shortlisted symbols before the cabinet, information and broadcasting minister Ambika Soni said after the cabinet meeting."My design is based on the Tricolour with two lines at the top and white space in between. I wanted the symbol for the Rupee to represent the Indian flag. It is a perfect blend of Indian and Roman letters: a capital 'R', and Devnagari 'Ra', which represent rupiya, to appeal to international and Indian audiences. After working on the design for few months, I shortlisted eight to 10 designs and then refined them further till I got this one," said Kumar. It would take about six months in India and about two years to make it recognized internationally.The government had organised a symbol design competition with a prize of Rs 2.5 lakh for the winner.  Five designs were shortlisted. D Udaya Kumar had submitted more than one design.The contestants were asked to design a symbol that would be the Hindi alphabet Ra with two lines - to  "reflect and capture the Indian ethos and culture"
The growing influence of the Indian economy in the global space is said to have prompted this move. The Rupee will join the select club of global currencies like the US dollar, the British Pound, European Euro and Japanese Yen that have unique symbols.

Right now, the abbreviation for the Indian Rupee, 'Re' or 'Rs' is used by India's neighbours Pakistan, Nepal and Sri Lanka as well.

Sunday, July 11, 2010

50 paisa coin of 1972



        A 50 paisa  commemorative  coin was issued  on 16th August 1972. to mark the 25th anniversary of our independence  all the previous version of 50 paisa coin were struck in nickel,but this 50 paisa coin was struck in copper and nickel  ( 75% Cupper + 25% Nickel ).India gained its independence 0n 15th August,1947 and on 15th August ,1972 India was celebrating 25th year of  its independence  and it was called the silver jubilee of India's independence to commemorate the 25th year of India's  independence this coin was issued .On one side a man and a women holding the Indian Tricolour infront of the Indian Parliament is depicted and  "२५वि  स्वअतन्त्र्य जयंती "  is written on one side which means "25th Independence anniversary.The picture man and women symbolizes the equality of men and women in Independent India. On the other side The Ashoka sthamba is depicted with the 50 paisa mark.A set of 2 commemorative coins in the denomination of Rs. 10, and 50 paise were issued for general circulation.


       

Tuesday, July 6, 2010

One rupee 1981 Currency note




Among the earliest issues of paper rupees were those by the Bank of Hindustan (1770–1832), the General Bank of Bengal and Bihar (1773–75, established by Warren Hastings), the Bengal Bank (1784–91), amongst others.The Paper Currency Act of 1861 gave the Government the monopoly of note issue throughout the vast expanse of India, which was a considerable task. Eventually, the management of paper currency was entrusted to the Mint Masters, the Accountant Generals and the Controller of Currency.After Independence of India, the government brought out the new design Re. 1 note in 1949. Initially it was felt that the King's portrait be replaced by a portrait of Mahatma Gandhi. Finally however, the Lion Capital of Asoka was chosen. The new design of notes were largely along earlier lines. In 1953, Hindi was displayed prominently on the new notes. The economic crisis in late 1960s led to a reduction in the size of notes in 1967.

The  one rupee note of India is most unique in its nature .It doesnot bear the signature of The Governor of Reserve Bank of India but it is signed by the Finance secretary of India .In India, the Permanent Secretary - level civil servant, who plays a leadership role in the bureaucracy of the Finance Ministry is known as the Finance Secretary.One rupee note is referred as currency note and rest higher denominations are called bank notes this is because for one rupee note  finance ministry has the authority to issue or print these notes so finance secretary will sign where as for other denominations only RBI governor has authority to issue or print.The Reserve Bank of India began note production in 1938, issuing 2, 5, 10, 50, 100, 1000 and 10000 rupee notes, while the Government continued to issue 1 rupee notes.The one rupee  is not the actual legal tender of the country.  On one side of  the note we can see a large Circular  watermark window with Ashokan Pillar as watermark and one Rupee in Hindi in the centre. Front of 1 Rupee coin image on top right.The colour of the note is Blue, Brown, Pink and Deep Purple .The note is signed by R. N. Malhotra who lateron became a reserve bank governor .On the reverse side there is a image of  'Sagar Samrat' offshore oil rig and  back of 1 Rupee coin image on top left side.Production of 1 Rupee denomination was discontinued since March 1994 by Government of India

Thursday, July 1, 2010

1976 Indian Rupee Coin



In most parts of India, the rupee is known as the rupee, rupaya (Hindi), rupiyo in Gujarati (રૂપિયો), roopayi in Telugu (రూపాయి), Tulu (ರೂಪಾಯಿ) and Kannada (ರೂಪಾಯಿ), rubai in Tamil (ரூபாய்), roopa in Malayalam (രൂപ), rupaye in Marathi (टी) or one of the other terms derived from the Sanskrit रूप्यकम् rupyakam) (Devanagari: रूप्यकं), raupya meaning silver; rupyakam meaning (coin) of silver. However, in West Bengal, Tripura, Mizoram, Orissa, and Assam, the Indian rupee is officially known by names derived from the Sanskrit तनक Tanka. Thus, the rupee is called টাকা Taka in Bengali, টকা tôka in Assamese, and ଟଙ୍କା Tôngka in Oriya, with the symbol T


After Independence of India, the government brought out the new design Re. 1 note in 1949. Initially it was felt that the King's portrait be replaced by a portrait of Mahatma Gandhi. Finally however, the Lion Capital of Asoka was chosen. The new design of notes were largely along earlier lines. In 1953, Hindi was displayed prominently on the new notes. The economic crisis in late 1960s led to a reduction in the size of notes in 1967. The very considerable costs of managing note issues of Re 1 led to the gradual coinisation



Immediately after independence, the British coinage was continued. The Monetary System remained unchanged at One Rupee consisting of 64 pice, or 192 pies. The "Anna Series" was introduced on 15 August, 1950. this was the first coinage of Republic of India. The King's Portrait was replaced by the Asoka's Lion Capital. A corn sheaf replaced the Tiger on the one Rupee coin. The monetary system was retained with one Rupee consisting of 16 Annas. The 1955 Indian Coinage (Amendment) Act, that came into force with effect from 1 April 1957, introduced a "Decimal series". The rupee was now divided into 100 'Paisa' instead of 16 Annas or 64 Pice.In 1960’s a new one rupee coin was issued which was bigger in size and weight .”BHARAT” was written on the Ashoka Sthamba side in india along with india.The famous slogan of “SATAYAMEV JAYTAE” was not included below the Ashoka Sthamba till that time.The weight of that coin was 10 gm and the diameter was 28 mm.Nickel was used because of its non-rusting property.This coin was continued till 1980.