PM Modi: Rs 100 Commemorative Coin in honour of Vijaya Raje Scindia
On October 12, 2020, the Prime Minister Narendra Modi is to release a commemorative coin of 100 rupees in honour of Vijaya Raje Scindia. Vijaya Raje Scindia is also known as Rajmata of Gwalior. The coin is being released to celebrate the birth centenary of Vijaya Raje Scindia. She was one of the Founder members of the Bharatiya Janata Party.
The Finance ministry minted the special commemorated coin as a part of the celebrations.
About Vijaya Raje Scindia
She was elected to Lok Sabha 7 times. Also, she had been elected to Rajya Sabha 2 times. She was a prominent Indian political personality. She ranked among the highest Royal figures during the British raj days. She was the consortt of the last ruler of Gwalior Jiwaji Rao Scindia. She was also an active member of Jana sangh.
She initially contested the elections with a Congress ticket in Madhya Pradesh in 1957. Later she quit Congress in 1967. Her mother was a part of Royal Nepali family. She exiled to India along with her maternal grandmother. Vijaya’s mother died shortly after her birth and was raised by her maternal grandmother.
Coinage Act 2011
The coins in India are minted as per the Coinage Act 2011. However, the currency notes are printed by the Reserve Bank of India according to the Reserve Bank of India Act. Also, the Circulation of currency and coins is done by RBI. The currency note of 1 Rupee is printed by the Ministry of Finance instead of RBI. Also, the coins are minted by the Ministry of Finance. All the other currency notes from 2 Rupees to 10000 Rupees are printed by RBI.
The act says that the metallic value of coin should not be more than that of the face value of the coins. This is to avoid selling of metal of the coin in the market.