Friday, November 30, 2012

Know your Indian Currency - Some Interesting Facts

Posted by Sharath Chandra
In Indian Currency have you observed the following things ?

Read On ..

- The first 1000/- Note was introduced in 2000 and the first 20/- and 5/- note was introduced in 2001
- Mahatma Gandhi Labeled notes stared from 1996 for new series of 10/- rupee notes...later for almost all currency notes they added Mahatma Gandhi to notes...It is a huge tribute to him.
- 50/- notes with Mahatma released in 1997
- 100/- with Mahatma as label...released in 1996 and still continuing the same template with slight changes in times..
- The first Mahatma Gandhi note of Rs.500 was released on 2nd October 1987 later subsequently in 1997, the new design of Rs.500 notes in the Mahatma Gandhi series was introduced during October.
-  From 2005 onwards, the year of issue is also printed in the bottom centre on the reverse of the note
-  The practice of year of printing of the year of issue on the reverse of the note began in 2005. The year of issue was necessitated since the volume of notes that were printed would one day exhaust the first 3 characters of the prefix. Therefore, from year 2006, the series commenced with 00A or 01A all over again.
- Know what is INSET
   The volume of banknotes printed in India are huge which necessitated the use of inset which in the case of Indian Banknotes are Alphabets. This inset is a capital letter and appears on the number panel.
              There are FOUR different currency press that print notes for the Reserve Bank of India . Each of the four currency printers are allotted a separate set of inset letters for their internal identification purposes. For security reasons, the Reserve Bank of India does not reveal which inset letters are assigned for which printing press from where it originates. As in the case of the prefix, only twenty alphabets are used as insets. The alphabets that are excluded are I, J, O, X, Y, Z.

The following insets have been assumed to be allotted to the four Printing press that print notes for the RBI. There is no official notification from RBI for security reasons, the inset allocation has been ascertained by the printer's name on the reams from the issued notes. It needs to be mentioned that all insets are so far not been used in one or all denominations of notes printed so far.
1. MYSORE : Plain & Inset A, B, C, D.
2. DEWAS : Inset E, F, G, H, K.
3. SALBONI : Inset L, M, N, P, Q.
4. NASIK : Inset R, S, T, U, V.

- For Coins
1. Delhi - have a dot
2. Mumbai - have a diamond
3. Hyderabad - have a star
4. Kolkata - Nothing beneath the year

- the word "RUPEE" was derived from the Sanskrit word raupya, meaning "Silver".

- The 15 Launguages (Apart from English) are Assamese, Bengali, Gujarati, Kannada, Kashmiri, Konkani, Malayalam, Marathi, Nepali, Oriya, Panjabi, Sanskrit, Tamil, Telugu and Urdu

- On July 15th 2010 Indian Rupee got its own Official Rupee Symbol and it started printing on currency from 2011 last quarter.
- Identification mark - On the left of the watermark window, different shapes are printed for various denominations (20: vertical rectangle, 50: square, 100: triangle, 500: circle, 1,000: diamond). This also helps the visually impaired to identify the denomination.