A Rs 75 coin was released on the day of the new Parliament inauguration
Posted on 29-05-2023
- A Rs 75 coin was released on the day of the new Parliament inauguration.
- Prime Minister Narendra Modi unveiled the commemorative coin to mark the occasion.
- Commemorative coins are issued to honor notable individuals, raise awareness about government schemes, or commemorate historical events.
- The government has the authority to design and mint coins under the Coinage Act, 2011.
- The quantity of coins to be minted is determined based on yearly indents received from the RBI.
- The RBI's role is limited to distributing coins supplied by the central government.
- Coins are minted in four mints owned by the Government of India in Mumbai, Hyderabad, Kolkata, and Noida.
- India's currency note printing presses are located in Nasik, Dewas, Mysore, and Salboni.
- Commemorative coins are authorized by the Ministry of Finance and minted by the Security Printing and Minting Corporation of India Limited (SPMCIL).
- The RBI also issues limited quantities of special commemorative coins in precious metals.
- The newly released Rs 75 coin is circular in shape with a diameter of 44mm.
- It is composed of a quaternary alloy of 50% silver, 40% copper, 5% nickel, and 5% zinc.
- The face of the coin features the Lion Capitol of Ashoka Pillar with the inscription "सत्यमेवजयते" (Satyameva Jayate).
- The words "भारत" (Bharat) and "INDIA" are inscribed on the left periphery in Devanagari script and English, respectively.
- The reverse side of the coin displays an image of the new parliament building.
- The inscriptions "Sansad Sankul" (in Devanagari) and "Parliament Complex" (in English) are written on the upper and lower periphery, respectively.
- Commemorative coins can be obtained by visiting the website of the Securities of Printing and Minting Corporation of India Limited (SPMCIL).
- The value of commemorative coins may not necessarily match their face value, as they are collectible items with varying worth in the market.
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