Govt to redesign Re1 to Rs 10 coin; new Rs 20 coin to be issued
Twenty rupee coin or note? what to bring? After the long debate it was finally decided that the coin would be brought. Now instead of the note, the new coin of twenty rupees will be released. Not only that, the Government of India is going to change the design of all coins from one rupee to ten rupees. The prototypes of these coins have been designed, which is going to be finalized in a meeting in Delhi today. In this meeting, new coins of twenty rupees with new design coins as well as important decisions regarding legality under the Indian Coin Act 2011 will be discussed. Twenty coins can be octagonal in shape.
Visually impaired will also be able to recognize easily
According to sources, coins will be designed in such a way that visually impaired can easily recognize them. The Secretary, Department of Economic Affairs, Government of India, has issued a letter in this regard and has convened a meeting of people related to finishing the design of coins. Earlier, the Reserve Bank of India was preparing to issue notes of twenty rupees whose design was in the final stages. It is believed that after watching the paper consumption, coins will be released only. In such a situation, the RBI can still stop issuing new notes of twenty rupees.
Estimates of 26,000 crores coins till March 2019
Indian Securities Printing and Currency Construction Corporation Limited (Security Printing and Mining Corporation India Ltd-SPMCIL) had earlier changed the design of coins in 2011. It was called ‘New Series of Indian Coins 2011’. Then from 50 paise to ten rupees, the symbol of rupee was included in all the coins. The Indian market is currently under the burden of coins. Till March 2018, the total amount of coins in the Indian market was Rs 25,600 crore, which is expected to increase to Rs 26,000 crore by March 2019.
Message of socialism also given coins
The shape and size institution associated with the Indian government takes suggestions from experts about the design of coins. Then the design is finalized. These committees include specialists in currency, arts, science, culture and society. Apart from this, suggestions are also made with the National Institute of Design (NID). It is believed that NID Ahmedabad has made important suggestions in the design of new coins. The new coins will also give a message of socialism. These coins included campaigns of social concern run by the Government of India.
