RBI to circulate new coins of 50 paise to Rs 10 denomination

Posted By: Religare
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New coins of 50 paise to Rs 10 denomination
Indian citizen are soon going to trade with the new coins to be circulated by Reserve Bank of India, in order to make payments for their purchase within the country. RBI has announced to introduce new coins fifty paise, one rupee, two rupees, five rupees and ten rupees denominations.

The bank metiones in a statement, “The RBI will shortly put in circulation... coins of the fifty paise, one rupee , two rupees, five rupees and ten rupees denominations."

Giving all the new coins a uniformity of circular shape with a shape and outside diameter between 19 to 27 millimetre, the difference would be maintained in the material used for creation of the coins. The fifty paise, Re 1 and Rs 2 coins would be made of ferritic stainless steel containing iron and chromium, while the Rs 5 coins would be made of nickel brass with a varying composition of copper, zinc and nickel. Meanwhile, Rs 10 would be made using copper and nickel.

Further, all the new coins would necessarily bear the Lion Capitol of the Ashoka Pillar and the word 'India' in English on one side and their denominational value on the obverse side.

Read more about: rbi, economy
Story first published: Saturday, July 23, 2011, 10:30 [IST]
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