July 22, 2011 9:02 PM

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RBI to issue a new series of coins

The Reserve Bank will soon issue a new series of coins. In a press release issued from Mumbai today, the RBI said that new coins in five denominations namely, fifty paise, one rupee, two rupees, five rupees and ten rupees will soon be put into circulation. All the new coins would be circular in shape. Outside diameter will range between 19 to 27 millimetres. All the coins would bear the Lion Capitol of the Ashoka Pillar and the word 'India' in English on one side and their denominational value on the other side. The fifty paise, 1 rupee and the 2 rupee coins would be made of ferritic stainless steel, while the 5 rupee coins would be made of nickel brass. The 10 rupee coins would be made of copper and nickel. The statement adds that the old coins of same denominations will continue to remain in circulation and will be treated as legal tender.

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