Latest news with #MahatmaGandhiSeries
Economic Times
5 days ago
- Business
- Economic Times
If Mahatma Gandhi wasn't India's first choice for banknotes then how did he become Rupee's forever face?
Synopsis Initially rejected, Mahatma Gandhi's image wasn't always destined for Indian currency. Post-independence, the Lion Capital of Ashoka was favored, symbolizing the new republic. Gandhi's presence began with a 1969 commemorative note, becoming permanent in 1996. Despite debates and proposals for other figures, Gandhi remains a constant reminder of India's core values on every rupee. Mahatma Gandhi Walk into any shop in India, hand over a crumpled banknote, and you'll see a familiar face smiling back, bespectacled, serene, and instantly recognisable. Mahatma Gandhi doesn't just appear on our currency; he has become a quiet constant in our daily exchanges, silently passing through millions of hands each day. But the story of how he ended up there is far from straightforward. In fact, in the first flush of independence, Gandhi's portrait was rejected for Indian on 14 August 1947 brought independence, but not yet a new currency. For a brief period, the Reserve Bank of India (RBI) continued issuing colonial notes bearing King George VI. Behind closed doors, discussions began on what a truly Indian banknote should look like. The early idea was simple, replace the King's portrait with that of the Father of the Nation. Designs were prepared with Gandhi's image. Then came a surprising turn. As the RBI recounts, the 'final analysis' shifted towards a non-personal symbol, the Lion Capital of Ashoka at Sarnath. It was felt this emblem, drawn from India's ancient heritage, better captured the idea of a modern republic. So, in 1949, the new Re. 1 note appeared with the Lion Capital watermark, and Gandhi's portrait was the following decades, Indian notes became miniature showcases of the country's identity and ambitions. Tigers, deer, and peacocks symbolised natural heritage. The Konark Wheel, Brihadeeswara Temple, and Hirakud Dam spoke of cultural pride and industrial progress. The Aryabhatta satellite hinted at a future in science and space. Currency in the 1950s and 60s was not about a single leader, it was about the nation as a wasn't until Gandhi's birth centenary in 1969 that he made his first official appearance on a banknote. This commemorative design showed him seated, with Sevagram Ashram in the background, a gentle nod to his life of simplicity and service. The issue was special and short-lived, not yet a permanent feature of Indian currency. The real turning point came in 1987. The Rajiv Gandhi government reintroduced the Rs 500 denomination, and for the first time on a regular note, Gandhi's portrait appeared on its obverse. Still, he wasn't on every note. That came in 1996, when the RBI launched the Mahatma Gandhi Series, redesigned notes with improved security features and, for the first time, Gandhi's smiling face on all 2016, the 'New Series' kept Gandhi firmly in place while refreshing colours, sizes, and themes. From Rs 10 to Rs 2,000, he had become inseparable from the the years, there have been calls to share this space. Some have suggested Jawaharlal Nehru, Subhas Chandra Bose, Sardar Patel, or even religious figures like Goddess Lakshmi and Lord Ganesha. In 2016, the government clarified that a high-level committee had decided 'there is no need to change Mahatma Gandhi's photo on the currency notes.' Others have been honoured in different ways, Dr B. R. Ambedkar, for instance, was commemorated with special Rs 125 and Rs 10 coins. In 2022, a proposal from the Aam Aadmi Party to add Lakshmi and Ganesha sparked debate, with supporters citing prosperity and detractors warning against politicising or communalising currency design. For all the discussion, Gandhi remains unshaken on our notes. As Martin Luther King Jr. once said, 'Gandhi was inevitable… we may ignore him at our own risk.' On the rupee, his presence is more than decoration, it's a reminder of the values he championed: truth, non-violence, and unity in time we pass a note across a counter, we're not just exchanging money. We're handing over a piece of history, one that almost didn't have Gandhi's face, but now, perhaps fittingly, cannot be imagined without it.
India Gazette
09-07-2025
- Business
- India Gazette
No plans to introduce Rs 50 coin, public prefers notes due to light weight: Centre tells Delhi HC
New Delhi [India], July 9 (ANI): The Union Finance Ministry has informed the Delhi High Court that it currently has no plans to introduce a Rs 50 coin, attributing the decision to widespread public preference for currency notes over heavier coins such as Rs 10 and Rs 20. In its affidavit filed on Tuesday, the Ministry cited findings from a 2022 Reserve Bank of India (RBI) survey, which revealed that users often avoid coins due to their weight, size, and lack of distinctiveness, factors that make banknotes more practical for daily use. The Ministry explained that coin issuance depends on public acceptance, usage patterns, and economic considerations, and as of now, a Rs 50 coin is not under consideration. This submission responded to a petition by advocate Rohit Dandriyal, who urged the government and the RBI to introduce a Rs 50 coin to enhance accessibility for visually impaired citizens. Dandriyal highlighted that Rs 50 notes currently lack tactile features, unlike other denominations, making them difficult to identify and use. The matter was heard by Chief Justice DK Upadhyaya and Justice Anish Dayal. The court granted the petitioner time to review the affidavit and respond, setting the next hearing for September 17. The government acknowledged that most denominations incorporate accessibility elements like intaglio printing and varied sizes. However, it admitted that Rs 50 notes lack such tactile markers. Additionally, simultaneous circulation of both old and new Mahatma Gandhi Series notes may contribute to confusion for those with partial vision. To address accessibility, the RBI launched the MANI app (Mobile Aided Note Identifier) in 2020 to help visually impaired users recognise note denominations through audio assistance. In 2019, a redesigned coin series was introduced, including Rs 1, Rs 2, Rs 5, Rs 10, and Rs 20, but did not include a Rs 50 coin. Previously, the Delhi High Court had directed the Centre and the RBI to examine the design and accessibility of currency in light of the challenges faced by visually impaired individuals. (ANI)
Time of India
09-07-2025
- Business
- Time of India
No plans to introduce Rs 50 coin, public prefers notes due to light weight: Centre tells Delhi HC
The Union Finance Ministry has informed the Delhi High Court that it currently has no plans to introduce a Rs 50 coin , attributing the decision to widespread public preference for currency notes over heavier coins such as Rs 10 and Rs 20. In its affidavit filed on Tuesday, the Ministry cited findings from a 2022 Reserve Bank of India (RBI) survey, which revealed that users often avoid coins due to their weight, size, and lack of distinctiveness, factors that make banknotes more practical for daily use. The Ministry explained that coin issuance depends on public acceptance, usage patterns, and economic considerations, and as of now, a Rs 50 coin is not under consideration. This submission responded to a petition by advocate Rohit Dandriyal, who urged the government and the RBI to introduce a Rs 50 coin to enhance accessibility for visually impaired citizens. Dandriyal highlighted that Rs 50 notes currently lack tactile features, unlike other denominations, making them difficult to identify and use. The matter was heard by Chief Justice DK Upadhyaya and Justice Anish Dayal. The court granted the petitioner time to review the affidavit and respond, setting the next hearing for September 17. Live Events The government acknowledged that most denominations incorporate accessibility elements like intaglio printing and varied sizes. However, it admitted that Rs 50 notes lack such tactile markers. Additionally, simultaneous circulation of both old and new Mahatma Gandhi Series notes may contribute to confusion for those with partial vision. To address accessibility, the RBI launched the Mapp (Mobile Aided Note Identifier) in 2020 to help visually impaired users recognise note denominations through audio assistance. In 2019, a redesigned coin series was introduced, including Rs 1, Rs 2, Rs 5, Rs 10, and Rs 20, but did not include a Rs 50 coin. Previously, the Delhi High Court had directed the Centre and the RBI to examine the design and accessibility of currency in light of the challenges faced by visually impaired individuals.
Hindustan Times
09-07-2025
- Business
- Hindustan Times
No proposal to introduce ₹50 coin in market: Centre tells Delhi HC
The Union finance ministry has told the Delhi high court that it does not propose to introduce ₹50 coin in the market, as the public has shown preference for using banknotes over the existing coins of ₹10 and 20 for everyday transactions, due to their weight and size. The affidavit has been filed in a petition seeking directions to the Centre to issue ₹ 50 coins. (RBI official website) In its affidavit filed on Tuesday, the Centre stated that it had conducted a survey in 2022 to analyse the usage of patterns of existing coins and banknotes in circulation, and the findings revealed a preference for banknotes over the coins. 'The decision to introduce a circulation coin of a particular denomination depends on multiple factors, including the public's readiness to accept the coin and the frequency of its use in everyday transactions. As indicated by the Reserve Bank of India's (RBI) survey, the public currently shows a preference for banknotes over coins in the ₹10 and ₹20 denominations. Therefore, any decision to introduce a ₹50 coin would depend on several factors including requirement of the economy, degree of public acceptance etc., in addition to the concerns of the visually impaired persons. At present, no proposal regarding introduction of a ₹50 coin is under consideration by the department,' the affidavit stated. 'That with regards to the feasibility of introducing ₹50 coin, it is submitted that the Reserve Bank of India conducted a survey in 2022 to analyse the usage patterns of existing coins and banknotes in circulation. The findings revealed a preference for bank notes over coins for the ₹10 and ₹20 denominations. Survey respondents identified the weight and size of coins– particularly the similarity in size across denominations- as significant impediments to the usage of coins', it added. Also Read: Ninth arrest in New India Cooperative Bank embezzlement case The affidavit has been filed in a petition preferred by advocate Rohit Dandriyal seeking directions to the Centre to issue ₹50 coins, to provide equal opportunity and ease of doing business to visually impaired citizens. It went on to add that even though the currency notes of other denominations including ₹1, ₹2, ₹5, ₹10, ₹20, ₹100, ₹200, ₹500 and ₹2,000 were designed to be accessible for the visually impaired, the ₹50 note lacked such features. It further argued that ₹50 note did not contain any intaglio printing or tactile markings, thereby rendering it inaccessible to visually impaired individuals and leaving no effective substitution in circulation. The affidavit will be considered by a bench of chief justice DK Upadhyay and justice Anish Dayal later in the hearing on Wednesday. In its six-page reply, the Centre further stated that the all the banknotes except ₹10, 20 and 50 issued under the Mahatma Gandhi Series in 2016, incorporate a sharp colour contrast scheme for facilitating denomination identification by individuals who are partially visually impaired but a possibility of confusion or difficulty in denomination identification exists due to the concurrent circulation of two series– namely the 2016 series and the earlier MG series. 'The banknotes issued under this series incorporate a sharp colour contrast scheme aimed at facilitating denomination identification by individuals who are partially visually impaired. It is pertinent to note that each denomination under the Mahatma Gandhi (New) Series has distinct dimensions, thereby enabling visually challenged individuals to differentiate between denominations through tactile means. There exists a possibility of confusion or difficulty in denomination identification by the visually impaired primarily due to concurrent circulation of two series-namely, the Mahatma Gandhi (New) Series and the earlier Mahatma Gandhi Series,' the affidavit stated. It added that the RBI, to enhance the quality of life of its citizens had however launched a mobile application called MANI (Mobile Aided Note Identifier) in 2020 to aid visually impaired persons to identify the denomination of banknotes. To ensure the accessibility and ease of identification of all coins, the affidavit stated, the Centre on March 6, 2019 had also introduced a new series of coins in the denominations of ₹1, 2, 10 and 20.
India Gazette
30-05-2025
- Business
- India Gazette
"Economy still not recovered from shock of demonetisation": Congress leader Jairam Ramesh
New Delhi [India], May 30 (ANI): The demonisation announcement made by Prime Minister Narendra Modi was the 'first major blow to the economy,' with the economy not recovering from the shock till date, said Congress leader and party's General Secretary in-charge of Communications, Jairam Ramesh on Friday. Ramesh further said with 98.24 pc of Rs 2000 notes being returned to Reserve Bank of India (RBI), which were introduced at the same time of demonisation, has proven that the whole 'experiment' was a futile exercise. Criticising the demonisation policy in a post on X, Ramesh posted, 'The demonetisation announcement made with much fanfare by the Prime Minister on the night of 8 November 2016 was the first major blow to our economy - and the economy has not fully recovered from this shock till date.' Talking about the introduction, and the subsequent withdrawal of the Rs 2000 notes from circulation, Ramesh's post added, '2000 rupee notes were introduced at the same time, in November 2016. But just as they were introduced suddenly, the announcement of demonetization of these notes on 30 September 2023 was also made suddenly. So far 98.24% of such notes have been deposited back to RBI. This clearly proves how futile and futile this entire experiment was.' Calling back the claim that demonisation will 'end fake currency,' Ramesh said that there has been a 37 pc increase in fake 500 rupee notes in 2023, highlighting an article which quoted RBI's annual report 2024-25. On November 8, 2016, the 500 and 1000 rupee notes were demonetised overnight, and new Rs 2000 notes were issued. 'Government of India vide their Notification no. 2652 dated November 8, 2016 have withdrawn the Legal Tender status of Rs 500 and Rs 1,000 denominations of banknotes of the Mahatma Gandhi Series issued by the Reserve Bank of India till November 8, 2016,' the RBI said in a press release in 2016. The decision was taken in order to tackle fake currency, nullify black money, and curb the funding of terrorism. (ANI)
