In , the Rs. Lotus buds and flower with stems and leaves became the main motif of this denomination. The lotus symbol was re-introduced on Rupee symbol series in for all denominations except Rs. In the demand for coins, particularly of lower denominations, had declined considerably. There was a reverse flow of coins of 5 paise, 10 paise and 20 paise denominations. It was, therefore, decided to phase out from circulation all lower denomination coins such as 5 paise, 10 paise and 20 paise and cupro-nickel coins of 25 paise, 50 paise and one rupee.
In view of the reported melting of Rs. The first decade of the 21st century witnessed many new varieties of definitive coinage of the Indian Republic and put into circulation for general public. The increase in the demand of the metallic currency lead to the introduction of a few new series namely 1 Unity in Diversity 2 Nritya Mudra and 3 Connectivity and Information Technology.
They depicted the solidarity of the Indian public, rich cultural heritage, advancement in information technology and connectivity. For the first time, the concept of using bi-metal in manufacturing coins was introduced for Rs. The new coin series has been designed with tactile factor for visually challenged people with new graphic look. These issues, however, came into circulation in These coins were of ferritic stainless steel. This would be for the first time, Indian citizens will also have a coin in the value of Rs But what is noteworthy is that, the new Rs 10 coin will be the 15th design which will be circulated among Indian citizens.
RBI last year, already notified saying, currently there are 14 design in Rs 10 coin, and they all are legal tenders in the country. The Rupee symbol will be placed above the denominational value.
The year of minting in international numerals shall be shown on centre of left periphery of the coin. Just like previous other Rs 10 coin, this one will have circular shape, with silver ring in middle. The Reserve Bank of India on Tuesday said the Rs 10 coin was very much in circulation and those refusing to accept it could face legal action, setting to rest rumours that the coin was banned. Reports have poured in of shopkeepers, kiosks owners and auto rickshaw drivers in and around Delhi returning R10 coins and asking for currency notes after a WhatsApp message, shared widely, claimed the coin was declared invalid by the central bank.
Some rumours said counterfeit coins in two designs had flooded the market. The others claimed the RBI had phased out the coins and those in circulation were fake. There was also talk of the gold polish coming off.
It owes its origin to rupiya , issued by Sher Shah Suri in ET traces the history of rupee from the British era to now. It remained in use during the Mughal period, Maratha era and British India. Your legal guide on estate planning, inheritance, will and more. ETPrime stories of the day Investing Bad bet or value buy?
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