RBI to circulate new coins in India
The Reserve Bank of India will shortly put into circulation coins of fifty paise, one rupee, two rupees, five rupees and ten rupees denominations.
The coins of fifty paise, one rupee and two rupees are composed of ferritic stainless steel-iron 83% and chromium 17%. The coins of five rupees are made of nickel brass-copper 75%, zinc 20% and nickel 5%.
The coins of ten rupees denomination are made of aluminium bronze-copper92%, aluminium 6%, nickel l2% and cupro-nickel-copper 75% and nickel 25%.
These coins are legal tender as provided in the Indian Coinage Act, 1906.
Month: Current Affairs - October, 2011