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Important Points on Currency

1) At first, the standard currency used in the world and History are:
    a.) U.S.A - Tobacco
    b.) Africa - Tusks
    c.) India - Sea Shells
    d.) Romans - Besant
    e.) Mouryas - Panna, Copper, Brass.

2) In India, Mohammad-Bin-Tuglak introduced copper coins as a standard currency. Then all houses became "mints". So, coins printing place are called mints.

3) In India, there are 4 places to mint coins. They are : Hyderabad, Mumbai, Kolkata and Noida.

4) In 7th century, Chinese introduced paper currency in the world.

5) Britishers introduced paper currency in India in 1882.

6) From April 1st, 1957, India is following Decimal system Currency.

7) First Paisa came out in March 1962.

8) First Rupee came out in July 1962.

9) In India, Rupee is unlimited legal tender and Coins are limited legal tender.

10) RBI prints new currency when it gets 115 crore worth gold and 85 crore foreign currency.

11) In India, Currency was erased by RBI in 1961 and 1978 to check Black Money.

12) RBI doesn't prints one rupee note.

13) Parliamentary Bhavan gives suggestions in the printing of "50 paisa " and 50 rupee notes.

14) Finance Ministry in India has been printing "One rupee" notes.

15) Finance Secretary signs on the one rupee notes.

16) All the currency notes are signed by RBI Governor except one rupee note (Finance Secretary)

17) Banknotes in the Mahatma Gandhi Series were introduced in 1996 and were issued in a phased manner in the denominations of Rs.5, Rs.10, Rs.20, Rs.50, Rs.100, Rs.500 and Rs.1000.

18) England started paper currency in 1864.

19) Australia introduced plastic currency in 1988 ( Ten dollar notes)

20) RBI decided to print plastic currency of 10 rupee notes.

21) The Indian rupee symbol is the fifth currency in the world to have a distinct identity designed by D Udaya Kumar. It is a perfect blend of Indian and Roman letters: a capital 'R', and Devanagari 'ra', which represent rupiya, to appeal to international and Indian audiences.

Last updated on: 02/10/2019


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