RBI to issue new coins

July 22nd, 2011 - 9:01 pm ICT by IANS  

Mumbai, July 22 (IANS) Three weeks after the 25 paise coins were withdrawn from circulation, the Reserve Bank of India (RBI) Friday announced it will introduce new coins in five denominations — from 50 paise to Rs.10.

The coins would be in denomination of one, two, five and 10 rupees, besides 50 paise.

While the Rs.10 coins will be made of copper and nickel, Rs.5 will be made of brass with a composition of copper, zinc and nickel.

The lower denomination coins of 50 paise, Re.1 and Rs.2 will be made of ferritic stainless steel containing iron and chromium.

All these coins would be round with diameter ranging 19-27 mm, and will carry the familiar Lion Capitol of the Ashoka Pillar with ‘India’ in English and Hindi on one side and the denomination value on the other side, the RBI statement said.

All existing coins in these denominations will continue to be legal tender.

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