Interesting facts about our Indian currency

Interesting facts about our Indian currency

            The RBI was launched in 1935. In 1938, the RBI first issued a five rupee note with the image of King George engraved on it.

The first note to be printed with the image of Mahatma Gandhi was printed in October 1987, many years after India's independence. Our Indian money is made of a type of material called cotton rag. This cotton rock is produced in Hoshangabad.

The ink used to print Indian currency is imported from a Swiss foreign company called SICPA. The company exports the printing ink not only to our country but also to many other countries.

There will be some indices on the left side of our Indian currency. These codes can be very helpful for the blind to know the value of money.

For example,

20 will be a Rs-rectangular shaped code.

There will be 50 Rs-square shaped code.

Will be 100Rs-triangular shaped code.

200Rs- four lines with two points in the middle of it.

500Rs- There will be five lines.

2000Rs- There will be seven lines.

Places to print these notes (Dewas, Nashik, Salboni, Mysore). Places where Indian coins are printed (Noida, Mumbai, Hyderabad, Kolkata). Symbols containing certain symbols on Indian coins indicate where those coins were printed.

where the coins were made

During the British rule,

            1rs = 16annas

            1anna = 4pa

It was in force from Indian independence till 1957. RBI first issued 10,000 rupees in 1938. The note was abolished in 1946. Again, the RBI removed the 1954 10,000 rupee note from printing in 1978. As a rule RPL can print 10 thousand rupee notes.

We are likely to have seen the 10 rupee coin in general but the RBI issued a coin worth seventy five rupees in 2010 to celebrate the seventy-fifth anniversary of its inception.

Interesting facts about our Indian currency

According to RBI rules, money can be printed up to ten thousand rupees and coins up to one thousand rupees. The value of money spent by RBI to produce one rupee is 1.1 rupees. At the time of India's independence it was 1 dollar = 4 rupees. This is because India's currency was net when it came to the euro.

rupees symbol was created by D Udayakumar. Devanagari created this code by mixing the letter Ra in the verse and the letter R in English.

They will recycle the torn rupee note and make some other paper products. From 2010 to 11 they recycled 1385 crore rupees worth of money.

Basic concept of Money

money is a commodity accepted by all general consent as a medium of the economic exchange. It is the medium in which the prices and values are expressed; as currency, it circulates anonymously from person to another person and country to various countries. Thus facilitating trade, and it is the principal measure of our wealth.

Functions of the money

The basical function of money is to enable buying to be separated from the selling, thus permitting trade to be take place without the so-called double coincidence of barter. In principle, credit could perform for this function, but, before extending the credit, the seller would want to know about the prospects of the repayment. That requires much more basic information about the buyer and imposes costs of information and verification that the use of the money avoids.