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.