Evolution Of ₹ (Indian Rupee) (Decimal and Non-Decimal.)

On the occasion of India's 25th Independence Day-1972. Government of India had issued numerous types of Coins. One particular coin of 20 Paise created a frenzy as it was rumoured contained traces of Gold, and very shortly people were hording them in large quantities.
When Reserve Bank of India initiated the process of recall of that coin only 20% of the minted ones was received back, subsequently a new 20 Paise was issued for circulation.
Our Indian currency has a long history and many rulers have designed the rupee to their requirements and necessity. I would like to highlight how our rupee was divided into paise, annas and naya Paise, 
Prior to our independence we had non-decimal coinage. One rupee was divided into 16 annas. An anna was subdivided into four (old) Paise or twelve pies (thus there were192 paises in a rupee).
In 1957, India shifted to the decimal system but for a short period both decimal and non decimal coins were in use.
To distinguish between the two paise, the coins minted between 1957 and 1964 have the legend Naya Paise.
The denominations in circulation were 1, 2, 5, 10, 20, 25, 50 (naya paise and one rupee which remained as the same pre-decimal value. Therefore pre-decimal coins of one, half and quarter rupees could remain in circulation after decimalisation. 
The rupee remained unchanged in value and nomenclature. It however, was now divided into 100 paisa instead of 16 annas. 
For public recognition the new decimal paise was termed Naya Paise till 1st June 1964 when the term Naya was dropped.
"If your blood does not rage, then it is water that flows in your veins. For what is the flush of youth, if it is not of service to the motherland?" - Chandra Shekhar Azad
May the glory of Independence Day be with us forever. Here's wishing you a very Happy 75th Independence Day!
#828

Comments

Post a Comment

Popular posts from this blog

Bengaluru_ Devanga Sangha's Centenary Year

Image
.On behalf of the members of Devanga Sangha, Devanga Hostel Road Bengaluru, I wish to express my sincere gratitude to our founding members for devoting their time and resources for establishing Devanga Sangha Bengaluru in the year 1923/24. On 12th February 1924 Government of then Mysore officially recognized Devanga Sangha. For the past hundred years many members and donors have contributed immensely for Sangha's development and progress. With great reverence I salute each one of them. Since the beginning, Devanga Sangha has been a centre for education, religious and social enrichment for successive generations of members, and I hope it would continue for another hundred years. It's my sincere appeal to it's management committee to declare 12th of February every year as Devanga Sangha's founders day and install their portraits for member's appreciation. If you think in terms of a year, plant a seed; if in terms of ten years, plant trees; if in terms of 100 years, te...
Read more

Exploring the Lives of Sri Devala Maharishi and Sri Devara Dasimayya: Differences and Similarities.

Image
Sri Devala Maharishi and Sri Devara Dasimayya are revered figures in Sanatan spirituality and literature, known for their contributions to the devotional and philosophical traditions of the country. While both individuals lived during different historical periods and hailed from distinct cultural backgrounds, their teachings and legacies continue to inspire millions of devangas and weavers to this day.  In this article, I would like to delve into the lives of Sri Devala Maharishi and Sri Devara Dasimayya, highlighting their differences and similarities. 1. Historical Background: 1.Sri Devala Maharishi is an ancient sage mentioned in Hindu scriptures such as the Rigveda and the Mahabharata.  His origin is attributed to the creation of Devanga community, and he is considered one of the revered sages of ancient India and is believed to have contributed to the compilation and transmission of Vedic knowledge. 2.Sri Devara Dasimayya was a 10th-century saint and poet who ...
Read more

Basketball's Rise in Cubbonpet Bengaluru.

Image
The founder of basketball was late Dr. James Naismith, an Canadian physical education instructor. He invented the game in 1891 while working at the YMCA Training School in Springfield, Massachusetts, USA. Naismith was tasked with creating a new indoor game to keep his students physically active during the winter months. He developed the basic rules of basketball and used a soccer ball and two peach baskets as goals. The first official game of basketball was played on December 21, 1891, and it quickly gained popularity, eventually evolving into the global sport we know today. Basketball, a dynamic and fast-paced sport, was introduced to India in the early 20th century, and its journey in the country reflects a blend of cultural adaptation, steady progress, and growing popularity. Over the decades, the sport has evolved from a recreational activity to a competitive discipline with a promising future.  This article explores the history, growth, and challenges o...
Read more