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Throughout history, the right to Coinage and Currency and issues of sovereignty have been curiously conjoined, emotionally if not rationally. These issues stimulate debate even today.
The transition of currency management from colonial to independent India was a reasonably smooth affair. Midnight, August 14, 1947 heralded Indian independence from colonial rule. The Republic, however, was established on 26th January, 1950. During the interregnum, the Reserve Bank continued to issue the extant notes.
Government of India brought out the new design Re. 1 note in 1949.
Government of India – Rupee One Symbols for independent India had to be chosen. At the outset it was felt that the King’s portrait be replaced by a portrait of Mahatma Gandhi. Designs were prepared to that effect. In the final analysis, the consensus moved to the choice of the Lion Capital at Sarnath in lieu of the Gandhi Portrait. The new design of notes were largely along earlier lines.
Rupees Ten – King’s Portrait
Rupees Ten – Ashoka Pillar
In 1950, the first Republic India banknotes were issued in the denominations of Rs. 2, 5, 10 and 100. There was slight variation in colour and design in case of Rs. 2, 5 and 100 notes. The ship motif on the reverse of Rs. 10 note was kept intact for the sake of continuity.
Republic of India – Rupees Two
Republic of India – Rupees Five
Republic of India – Rupees Ten
Republic of India – Rupees Hundred In 1953, Hindi was displayed prominently on the new notes. The debate regarding the Hindi plural of Rupee was settled in favor of Rupee. High denomination notes (Rs. 1,000, 5,000, and 10,000) were reintroduced in 1954. High denomination notes were once again demonetized in 1978 for the same reasons as the 1946 demonetization.
Rupees One Thousand – Tanjore Temple
Rupees Five Thousand – Gateway of India
The Reserve Bank manages the currency in India and plays a role in managing the currency under the Reserve Bank of India Act, 1934.
In 2010, the new rupee symbol was officially adopted. It was designed by DD Uday Kumar. It is derived from the pinnacle of Devanagari and the capital of the Latin verb.
The first batch of new rupee coins came into circulation in July and July, 2011. Bharat and “rye” were used as symbols of some rupees respectively.
The parallel lines at the top (with white spaces between them) give birth to the tricolor Indian flag and at the same time symbolize equality, symbolizing the state’s desire to reduce economic inequality.
On November’s 8, 2016, the Governments of Indian announces the listing of the Ban on 500 ane 1000 Euro note from Midnight’s. In addition to the new red 500 notes, since November 10, 2016, 500 new signature banknotes have been in circulation. 1000 and 1000 notes were suspended.
On August 25, 2017, after the inspection, a new 200 Yen note was added to the Indian currency denomination to close the banknote due to the high demand for this currency.
Collection of Indian notes in PDF format from 1905 till date. This 88-page PDF document contains images of all the notes. Must see once.
તમામ ચલણી નોટોના ફોટા જોવા અહીં ક્લીક કરો
Use of worldwide rupee The Bosphorus colonies were originally an area of the British Malay Archipelago. In 187, the Indian rupee became the only official currency in the Bosphorus colonies as it became part of British India. The move was opposed by local residents. However, the Spanish dollar continued to spread, and in 1845 a coin was introduced into the Straits colonies using the 100 percent = 1 dollar dollar system, suitable for the Spanish dollar or the Mexican peso. In 1867, the Bosphorus Settlement Administration was recalled from India, and thus the Bosphorus dollar became a high quality currency, and attempts to reprint the rupee were eventually abandoned.
The Government of India introduced the Gulf Rupee, also known as the Persian Gulf, to replace the Indian Rupee with the Federal Reserve Bank Act of May 1, 1959 for foreign trade. The plan to create a separate currency was to ease the pressure on India’s foreign exchange reserves through gold smuggling. After the devaluation of the rupee by India on June 6, 1966, these countries still used it – Oman, Qatar and thus the real countries exchanged the Gulf rupee for their own money. Kuwait and Bahrain in 1961 in Kuwaiti dinars and in 1965 in Bahraini dinars.