Reserve Bank of India to issue new coins!

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July 22, 2011, IANS, Mumbai / DC.

(File image) Reserve Bank of India to issue new coins -PTI.

Three weeks after the 25 paise coins were withdrawn from circulation, the Reserve Bank of India (RBI) on Friday announced it will introduce new coins in five denominations -- from 50 paise to Rs10.

The coins would be in denomination of one, two, five and Rs10, besides 50 paise.

While the Rs10 coins will be made of copper and nickel, Rs5 will be made of brass with a composition of copper, zinc and nickel.

The lower denomination coins of 50 paise, Re1 and Rs2 will be made of ferritic stainless steel containing iron and chromium.

Full Story at,

http://www.deccanchronicle.com/channels/business/news/reserve-bank-india-issue-new-coins-280

INDIAN CURRENCY: Pranab Mukherjee releases new series of coins!

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July 8, 2011 / ANI, New Delhi / DC.

Union Finance Minister Pranab Mukherjee releasing a new series of coins of the denomination of 50 paise, Rs.1, 2, 5 and 10 in New Delhi - PTI.

The design has been adopted keeping in mind the difficulties faced by visually-challenged people.

Union Finance Minister Pranab Mukherjee today released a new series of coins with improved design and a revised size in the denomination of 50 paise, Rs.1, 2, 5, and 10.

Speaking on the occasion, Mukherjee said that new coins will not only reduce the cost of moving materials, but also are of user-friendly size and weight.

He said that security edging of the new series of coins would be good for better recognition by visually-challenged persons and will have improved counterfeiting resistance.

The present series of coins of 50 paise, Rs.1, 2, and 5 contain a flowery design and for Rs.10, the number of petals have been brought down to 10 in place of the existing 15 petals.

The parallel lines on the obverse side of the Rs.10 coin have been removed and the size of Ashok Pillar has been increased.

Full Story at,

http://www.deccanchronicle.com/channels/business/news/pranab-mukherjee-releases-new-series-coins-563

RBI WOES: Keralites ‘let loose’ before coin cut, state sees 25, 50 paise coins rain!

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• June 24, 2011 
• By Krishna Kumar K. E. 
• DC 
• Kochi.

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• There’s a lot of change at Reserve Bank of India (RBI) nowadays.
  With 25 and 50 paise going out of circulation on June 29, it's raining coins at its offices in Kerala..
  Truckloads of 25 paisa coins are being brought to these offices.
  “People are coming with sacks full of coins for exchange. A shopkeeper recently brought 2,00,000 coins with a value of `80,000,” a bank official in Kochi told Deccan Chronicle.
  “Average 60 people turn up at our exchange counter every day. Most carry coins having a value of `2,000 or more. You can imagine the volume!” he said.

Full Story at,

http://www.deccanchronicle.com/channels/cities/kochi/keralites-%E2%80%98let-loose%E2%80%99-coin-cut-state-sees-25-50-paise-coins-rain-343