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Inr Description:
The full form or meaning of INR is the Indian Rupee which is the currency name of the official Indian currency.
It is the republic of India’s official currency.
The Indian rupees is approved as the currency and controlled by the Reserve bank of India which is the central bank of India.
In 1957 the Indian rupee was divided into 100 paise it means 1 rupee is equal to 100 paise.
1 Indian Rupee or INR= 100 paise
The reserve bank of India is responsible to manage the currency in India based on the Reserve bank of India (RBI) act of 1934. The reserve bank of India is also responsible to perform ht role in currency management.
Indian rupee or INR has been referred to as the “₹” symbol formed by Udaya Kumar instead of Rs. Symbol since the year 2010. One rupee which was the lowest value used in the country was demonized in 2019.
The Indian rupee coins are issued by the reserve bank of India in various metals for denominations such as 50 paise, 1 Rupee, 2 Rupee, 5 Rupee and 10 Rupee etc.
Many of these coined issued by RBI incorporate King Ashoka on them. the banknotes are also issued by the Reserve bank of India for amounts of one, two, five, ten, twenty, fifty, hundred, five hundred, two thousand and so on.
These denominations appear on the opposite end of Mahatma Gandhi’s portrait except in the one rupee note. Instead of Mahatma Gandhi’s photo, the note of one Indian Rupee has a picture of one rupee coin.
There are various types of Indian rupee or INR in coins and rupees such as –
Indian rupee security features implementation is critical in order to maintain legitimate transactions in the economy of India.
It is because there is always a chance of duplication of the Indian rupee notes.
These duplicate Indian rupee notes become a massive cause of the weakening and decline of the Indian economy.
However there are some key points included to prevent this duplication and avoid any security issues, these are –
There should be an attached safety threat
There is the use of fluorescence and optically variable ink for the Indian rupee notes.
There is a watermark used for Indian rupee notes.
Identification tags use
these are some interesting facts
Posted on 12 Feb 2022, this text provides information on General in Finance related to Finance. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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