Numismatics Collections

The Government of India will issue a  commemorative coin  of ₹175 denomination to mark the ' 175 years of IIT Roorkee .' The Ministry of Finance issued the gazette notification on June 27, 2022, confirming the coin. Indian Institute of Technology Roorkee (abbreviated IIT Roorkee) is a public technical university located in Roorkee, Uttarakhand, India. The oldest engineering institution in India, IIT Roorkee was founded as the College of Civil Engineering in British India in 1847 by the Lieutenant-Governor of the North-Western Provinces, James Thomason, in order to train officers and surveyors employed in the construction of the Ganges Canal. The commemorative coin is expected to be issued at any time, as IIT Roorkee celebrates its 175 years of existence from November 25, 2021, to November 24, 2022. The metal composition of the coin will be  Quaternary Alloy  (50% Silver, 40% Copper, 5% Nickel and 5% Zinc). The weight of the coin will be 35 grams and 44 mm in diameter...

The second coloured souvenir, showcasing the Panchatantra story-tale " The Crow and The Snake ," was displayed at an exclusive event highlighting the 'Evolution of Indian Currency.' This exhibition was hosted at the Currency Note Press in Nashik and was organized by the Security Printing and Minting Corporation of India Limited (SPMCIL) from June 8th to 10th, 2022. The souvenir token is crafted from Nickel Silver, weighing 32 grams and measuring 44 mm in diameter. The obverse of the coin features the colored logo of SPMCIL alongside the year, while the reverse showcases the image of the Panchatantra tale "The Crow and The Snake," encircled by the legend. In February 2022, the initial coloured souvenir was released, featuring the story-tale " The Foolish Lion and The Clever Rabbit " at a price of ₹1093.

The Prime Minister Shri Narendra Modi unveiled a special series of ₹1, ₹2, ₹5, ₹10, and ₹20 coins. These distinctive coins features the theme of the Azadi Ka Amrit Mahotsav and are designed to be easily identifiable for visually impaired individuals, while  inaugurating iconic week celebrations of the Ministry of Finance and Ministry of Corporate Affairs today. Addressing the gathering, the Prime Minister remarked that everyone who participated in the prolonged struggle for independence contributed a distinct dimension to the movement, enhancing its vigor. He acknowledged that some individuals embraced the path of satyagraha, others opted for armed resistance, some drew strength from faith and spirituality, while others intellectually fueled the flame of freedom. Today is a day to honor all these contributions. Emphasizing the celebration of 75 years of independence, the Prime Minister underscored that it is the responsibility of every citizen to make a unique contribution...

The Reserve Bank of India (RBI) and the Security Printing and Minting Corporation of India (SPMCIL), under the Finance Ministry, are considering the introduction of watermarks featuring Rabindranath Tagore and APJ Abdul Kalam alongside the current representation of Mahatma Gandhi on all denominations of banknotes. Earlier, the banknotes featured watermarks of the Ashoka Emblem, which were later replaced with Mahatma Gandhi's image. However, for the first time, the RBI is contemplating the inclusion of images of notable personalities other than Mahatma Gandhi on the banknotes. RBI and SPMCIL have reportedly forwarded two distinct sets of samples featuring watermarks of Gandhi, Tagore, and Kalam to IIT-Delhi Emeritus Professor Dilip T Shahani. Professor Shahani has been tasked with choosing between the two sets and presenting them for final consideration by the government, as reported by The New Indian Express . In 2021, the RBI instructed Bharatiya Reserve Bank Note Mudran Pvt Ltd i...

In the recent Reserve Bank of India's Annual Report for the fiscal year 2021-22, released on May 27, 2022, it was indicated that the ₹1 coin was neither intended nor minted during the mentioned financial year. The ₹1 coins were minted and supplied to the RBI's chest in approximately 1093 lakh units in the financial year 2019-20 and 1000 lakh units in 2020-21, although they are yet to be found in circulation. The ₹1 coin was initially issued in 1962 as part of the new decimal coinage, but regular circulation began only from 1970 onwards. It appears to be facing a decline in usage. In addition to the ₹1 denomination, there is a notable reduction in the indents and supplies of all denominations in the financial year 2021-22. This reduction is largely aimed at discouraging the use of coins and promoting digitalization. The RBI has raised the commission payable to commercial banks for distributing coins from ₹25 to ₹65 per bag in urban areas, coupled with an additional incentive of ...