Our entire life revolves around the idea of creating more money, for money strongly associates with contentment. As much as we’d hate to admit, money has gained vital importance in everyone’s life and this can be all the more reason to acquaint ourselves with it. However how much will we know about it, which apparently seems to be how little?
Below are some Indian rupee related facts. . .
15 Facts About Indian INR Currency :-
- 1st paper currency
The process of issuing paper currency started within the 18th century. Private banks like Bank of Hindustan, Bank of Bengal, the Bank of Mumbai and also the Bank of Madras were among the first to print paper money. It was only after the paper currency Act of 1861 that the govt of India given the monopoly to print currency.
- Rupees isn’t made of paper! Hence your currency consists of cotton and cotton rag.
- Only Re. 1 notes and coins in India are sign by the Finance Secretary as they’re printed by the Central Government. All other Indian currency notes in India printed by RBI.
- Total 17 Languages appears out of that 15 languages appear in the language panel of banknotes additionally to Hindi prominently displayed in the centre of the note and English on the reverse of the banknote.
- In 2010 Indian rupee symbol “₹” adopted. D.Udaya Kumar is the creator of the rupee symbol. The symbol derived from Devanagari letter “र” (ra). Since the symbol is a combination of the Latin letter “R” and Devanagari letter “र”. The parallel line in the symbol given to form it look like tricolor of Indian national flag.
- Since after independence the Pakistani rupee came into existence, initially using Indian coins and Indian currency notes simply overstamped with “Pakistan“. Provisional notes issued by the reserve bank of India and also the Government of India on behalf of the govt. of Pakistan, for use completely within Pakistan, without the possibility of redemption in India. Pakistan started printing its own currency later in 1948.
- For the visually impaired people there’s an identification mark (different geometrical shapes) on the left hand side of every note in the form of raised print (intaglio). A diamond for Rs 1000, circle for Rs 500, triangle for Rs 100, sq. for Rs 50, rectangle for Rs 20 and none for Rs 10.
- Have you ever noticed the various symbols below the year. These symbols are actually specifying where the originated. the following insets are assumed and be allotted…
Delhi(Noida) – have a dot
Mumbai – have a diamond
Hyderabad – have a star
Kolkata – Nothing beneath the year
- Special commemorative coins: 75, 100, 1000 rupees coin were first created in 2010. It absolutely was only for the commemorative functions. Since they made to celebrate 75 years of reserve bank of India, 100 years of Rabindranath Tagore and 1000 years of Brihadeeswarar temple.
- On Indian Rupees you can’t find these “I, J, O, X, Y, Z” alphabets / letters on the number panel. Hence in these case RBI solely have twenty alphabets used as insets. But for security reasons, reserve bank of India doesn’t reveal that inset alphabet/ letters appointed that printing press.
- The current series of bank notes are Mahatma Gandhi Series. The Mahatma Gandhi series of notes were introduce in 1996.
- The highest denomination note ever printed by the RBI was the Rs 10,000 note in 1938 and again in 1954. These notes were demonetized in 1946 and again in 1978.
- The RBI can issue bank notes within the denominations of 5000 and 10,000 or the other denomination that the Central Government may specify. But, there cannot be banknotes in denominations higher than 10,000 as per the current provisions of the RBI Act, 1934.
- Coins can be issued up to the denomination of Rs. 1000 as per Coinage Act, 2011.
- At the time of independence, the division of the rupee was in annas. 16 annas used to make one rupee. Since the anna was additional divided into 4 paisas or 12 pies. Nowadays, the rupee divided into paisa and one rupee is equal to a hundred paisa. The decimalization of the rupee took place in 1947. In this, the rupee divided into a hundred naya paisa (nayameans new). The word naya was later on drop in 1964.
India, one among the first issuers of coin, since the 6th century B.C, currency has existed in the type of coinage. The rupee is the official currency in India. INR is the international currency code of Indian currency. Issue of Indian currency is controlled by RBI (Reserve Bank of India).