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Wednesday, February 16, 2011

Reserve Bank Of India Golden Jublee 50 Paise coin

The Reserve Bank of India  is the central banking system of India and controls the monetary policy of the rupee  as well as foreign  currency reserves The institution was established on 1 April 1935 during the British-Raj in accordance with the provisions of the Reserve Bank of India Act, 1934 .The Reserve Bank of India was set up on the recommendations of the Hilton Young Commission. The commission submitted its report in the year 1926, though the bank was not set up for another nine years.The Central Office of the Reserve Bank was initially established in Kolkata, Bengal, but was permanently moved to Mumbai in 1937. The Reserve Bank has continued to act as the central bank for Myanmar till Japanese occupation of Burma  and later up to April 1947, though Burma seceded from Indian Union in 1937. After the partition, the Reserve bank served as the central bank for Pakistan  up to June 1948 when the State Bank of Pakistan commenced operations. Though originally set up as a shareholder's bank, the RBI has been fully owned by the Government of India since its nationalization in 1949.

This 50 paise  commemorative coin  was issued on the golden jubilee of  Reserve Bank of India in the December,1982.It is a copper-nickel coin ( 75% Cupper + 25% Nickel ).It was quite different to the prevailing 50 paisa coin .The diameter of the coin was 24mm and its weight is 5 grams.

On one side of the coin is depicted the logo of RBI “tiger under a palm tree” and  Reserve Bank of India is written in english as well as in hindi.The word " golden jubile" is written in the bottom in hindi as well as in english. The span that marked the 100 yrs of RBI is too written on the coin.(1935-1985).On the other side of the coin the denomination is written along with the 'Ashoka Sthamba' and below the 'Ashoka  Sthamba' the slogan 'satyamev jaytae' is written which means 'Truth Always Triumphs' .Based on this a question was asked in the gameshow of the movie 'Slumdog Millenaire'-The famous oscar winning movie.

The other 3 coins in the same theme, were issued in the denomination of 100 rupees, 10 rupees and 2 rupees as proof specimens.This is a very rare coin and is very rare piece.

1 comment:

  1. Hi friends, i have Rs 2 coin of national integration.... . supreme court.... Platinum jubliee of RBI with tiger.
    Rs 1 coin of 1980 n 1981. n many more. I want to sell in current price. Buyer contact me on 7037997159. Mail- devnarula2002@gmail.com