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A rare fact about indian coins

CA Pallav Singhania (IT System Auditor) (33262 Points)

11 December 2011

Indian coins are mainly produced in 4 cities :

1. Delhi

2. Mumbai

3. Hyderabad

4. Kolkata

The production in city puts an identification mark under the year of issue. Coins produced in:

1. Delhi - have a dot

2. Mumbai - have a diamond

3. Hyderabad - have a star

4. Kolkata - Nothing beneath the year

Isn’t it amazing?

Now put your hand inside your pocket/ wallet/ purse and check out!!!!

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6 Replies

CA Ruskin B (Member) (2602 Points)
Replied 11 December 2011

a nice one..

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Anil Rai,FICWAI (Sr.Manager(Corporate finance)) (32 Points)
Replied 13 December 2011

gud information

CMA Ankur Pandey (Govt.Job) (4401 Points)
Replied 15 December 2011

Thanks Aryan for such nice information...I expect more post like this............

I want to add some of the history facts about indian currency

India has been one of the earliest issuers of coins in the world (circa 6th Century BC).

The first "rupee" is believed to be introduced by Sher Shah Suri (1486-1545), based on a ratio of 40 copper-coin pieces (paisa) per rupee.

Among the earliest issues of paper rupees were those by the Bank of Hindostan (1770-1832), the General Bank of Bengal and Bihar (1773-75, established by Warren Hastings), the Bengal Bank (1784-91), amongst others.

Historically, the rupee, a Sanskrit word which means silver, was a silver coin. This had severe consequences in the nineteenth century, when the strongest economies in the world were on the gold standard. The discovery of vast quantities of silver in the U.S. and various European colonies resulted in a decline in the relative value of silver to gold. Suddenly the standard currency of India could not buy as much from the outside world. This event was known as "the fall of the Rupee."

During British rule, and the first decade of independence, it was subdivided into 16 Annas. Each Anna was subdivided into either 4 paise, or 12 pies. Until 1815, the Madras Presidency also issued a currency based on the fanam, with 12 fanams equal to the rupee.

Following independence in 1947, the Indian rupee replaced all the currencies of the previously autonomous states. Some of these states had issued rupees equal to those issued by the British (such as the Travancore rupee). Other currencies included the Hyderabad rupee and the Kutch kori.

In 1957, decimalisation occurred and the rupee was now divided into 100 Naye Paise (Hindi for new paisas). After a few years, the initial "Naye" was dropped. However many still refer to 25, 50 & 75 paise as 4, 8 and 12 annas respectively, not unlike the now largely defunct usage of "bit" in American English for 1/8 dollar.

Keep sharing

2 Like

CA Pallav Singhania (IT System Auditor) (33262 Points)
Replied 15 December 2011

@ Ankur Ji

Thank you Ankur Ji for adding an informative addition to this as well.......

(Guest)

Thankyou Aryan, as a citizen of India, we should know such basic information, Thankyou Ankur sir, for very useful information.

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CA Ruskin B (Member) (2602 Points)
Replied 18 December 2011

Is it true that Indian Rupee was in use in Kuwait for a period of time?

https://www.e.gov.kw/sites/kgoenglish/portal/Pages/Visitors/AboutKuwait/KuwaitAtaGlane_Currency.aspx

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