Finance Minister Pranab Mukherjee today released a new series of coins with “improved design and revised size” in the denomination of 50 paise, Rs 1, 2, 5 and 10.
The new coins will “not only reduce the cost of moving materials” but also are of “user friendly” size and weight, Mr Mukherjee said in a statement.
He said security edging of the new series would be good for better recognition by visually challenged people and will have improved counterfeit resistance.
The present series of coins of 50 paise, Rs 1, 2 and 5 contain a flowery design, the statement said.
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.
The new series of coins have been introduced with the new rupee symbol and with features at the edge, which make it “convenient for easy recognition and distinction”.
The design has been adopted keeping in mind the difficulties faced by visually challenged people, the statement said.
The minting of the new series of coins of all denominations is in full swing at the various mints of Security Printing & Minting Corporation of India Ltd (SPMCIL).
These coins will be in circulation soon. The statement said the Finance Ministry has received representations from time to time which said it was difficult for the public, particularly the visually impaired to distinguish the coins of different denominations, especially the Rs 1 and Rs 2 coins.
The government had constituted a high level Committee to suggest rationalisation of denomination of coins and currency notes to be minted and printed in the future.
The Committee submitted its report in October 2009.The government has also decided to call in from circulation the coins of the denomination of 25 paise and below by June 30, 2011.
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