On March 6, the finance ministry came up with the notification to release 5 new coins in denominations of Rs. 1, Rs. 2, Rs. 5, Rs. 10 and Rs. 20. The designing of the new coins has been done by the National Institute of Design. Furthermore, the ministry of Finance and Security Printing and Minting Corporation of India Limited are the key force behind the launch of new coins in India.
In the new series of coins, several new features have been incorporated that make these coins more user-friendly especially for visually impaired individuals.
Features of new One rupee coin:
New coin in denominational value of Rs. 1 will feature the Lion Capitol of Ashoka Pillar on the face with the legendary 'Satyamev Jayate' inscribed in Hindi below it.
Further, there will be specified the denomination of rupee 1 in international numerals on the face of the coin. Above the denomination, rupee symbol will feature. On the left periphery of the coin, the design of grains is shown, which is reflective of agricultural dominance of India.
The top and bottom right sides will feature the word ' Ek Rupaya' in hindi language and 'one rupee' in English respectively. On the centre of the left periphery of the coin, there will be provided the year of minting of the coin in international numerals.
The new Rs. 1 coin is 20 mm circular with a metal composition of Ferritic stainless steel that contains 83% iron, 17% chromium, which is similar to Rs 2 new coin.
The old Rs. 1 coins weighing 4.85 gms with a diameter of 25 mm and thickness of 1.45 mm were minted from stainless steel and was released in 1992.