2. PREVIEW
History, Evolution & Function of Currency
Important World Currencies
Evolution of Currency (Rupee) in India
Printing of Indian Paper Currency Notes and Coins
4. Evolution of Currency:
Barter system
Commodity money
Paper money
Demand deposits
E-money
5. Barter system:
Trading or Bartering was the way of life in the
ancient times.
It means direct exchange of goods and services
for other goods and services
Difficulties in barter system:
Lack of common measures of values.
Difficulties in storing values.
Indivisibility of certain goods.
6. Commodity money:
livestock, shells, and beads were later used as money.
Commodity money is money whose value comes from a commodity of
which it is made. Commodity money consists of objects that have value
in themselves as well as value in their use as money
7. Paper Currency:
The printing of paper money is typically
regulated by a country's central
bank/treasury in order to keep the flow of
money in line with monetary policy.
In Europe during the 1600’s,
Goldsmith’s notes were used as
evidence of ability to pay. It mark the
first use of banknotes in England
In 806 A.D., the Chinese started
issuing paper currency, but it led
to inflation.
8. Demand deposits:
Demand Deposit refers to a type of account held at
banks and financial institutions that may be
withdrawn at any time by the customer. The majority
of such Demand Deposit accounts are checking and
savings accounts.
9. E-money:
All types of money which people deal with it electronically, far from
traditional ways of payment like banks, cheques, paper money and coins, e-
Money allow users through internet or wireless devices to pay the charges of
their purchases directly from their bank accounts by electronical ways such
as Smart cards, Digital wallets and micropayments
10. INTRODUCTION OF COINS
Croesus, king of Lydia, created the first gold
and silver coins in 561 B.C.
Charlemagne standardized coins during
Medieval when he conquered most of Europe
in 800 A.D.
Chandragupta Maurya (340-290 BC),
introduced silver coins in India
as rūpyarupa,
Other types of coins used during the
Mauriyan period included gold coins
(Suvarṇarūpa), copper coins (Tāmrarūpa)
and lead coins (Sīsarūpa).
Silver punch mark coin of
the Maurya Empire known
as Rūpyarūpa,
11. DEFINITION OF MONEY
Money is any commodity that satisfies the
following:
Medium of exchange (item accepted for
exchange)
The value stored over time
Unit of Account (common measure of goods/services)
17. SYMBOLS USED FOR WORLD CURRENCIES
U K - pound
US –Dollar
Europe – Euro
Japan – Yen
India – Rupee
Cuba – Peso
Korea – Won
Laos - Kips
Costa Rica – Colon
Switzerland – Franc
Nigeria – Naira
Mongolia – Tughrik
Ukraine – Hryvnia
Thailand – Bhat
Turkey – Urals
South Africa - Rand
19. As per record the first Rupee was introduced by
Sher Shah Suri (1486-1545) in the form of a
Silver coin (weighing 178 Grains).
The name is derived from the Sanskrit word
‘raupyakam’ meaning Silver.
Chandragupta Maurya (340-290 BC), introduced
silver coins as rūpyarupa,
Other types of coins used during the Mauriyan
period included gold coins (Suvarṇarūpa), copper
coins (Tāmrarūpa) and lead coins (Sīsarūpa).
Silver punch mark coin of
the Maurya Empire known
as Rūpyarūpa,
Rupiya issued by Sher
Shah Suri (1540–1545 AD)
HISTORY OF INDIAN RUPEE/COINS
20. The earliest issues of paper rupees were
1770-1832: By the Bank of Hindustan
1773–1775:The General Bank of Bengal and
Bihar established by Warren
Hastings
1784–91:The Bengal Bank.
INDIAN RUPEE
21. 1938: The Reserve Bank of India began note
production in issuing 2, 5, 10, 100, 1000
and 10000 rupee notes, while the
Government continued to issue 1 rupee
notes.
INDIAN RUPEE
22. Security Printing and Minting Corporation of India Limited (SPMCIL) -
It is an Indian Govt – owned corporation that engages in the production of –
Bank notes, coins, non–judicial stamps, postage stamps, and other government
related documents for India.
SPMCIL comprises four presses:
Currency Note Press (CNP),
Bank Note Press (BNP),
India Security Press,
Security Printing Press.
CNP was established in 1928 as the first printing press for bank notes in India.
Both CNP, located in Nashik, Maharashtra, BNP Mysore and BNP, located in
Dewas, Madhya Pradesh, print Indian currency.
Printing of Indian Currency notes and Minting of Coins
23. SPMCIL comprises four mints:
India Government Mint, Mumbai
India Government Mint, Kolkata
India Government Mint, Hyderabad
India Government Mint, Noida
These mints produce coins, and medals and awards, as required by
the Government of India.
Printing of Indian Currency notes and Minting of Coins
24. Mahatma Gandhi Series Currency notes are printed since 1996 at the -
Currency Note Press, Nashik,
Bank Note Press, Dewas,
Bharatiya Note Mudra Nigam (P) Limited presses at Salboni and
Mysore
And at the Watermark Paper Manufacturing Mill, Hoshangabad.
Printing of Indian Currency notes
25. Each bank note has its amount
written in 17 languages (English
& Hindi on the front, and 15
others on the back) illustrating
the diversity of the country.
INDIAN RUPEE -LANGUAGE PANELS
26. WATER MARK : White side panel of notes has Mahatma Gandhi
watermark.
SECURITY THREAD : All notes have a silver security band with
inscriptions visible when held against light.
LATENT IMAGE : Higher denominational notes display note's
denominational value in numerals when held horizontally at eye
level.
MICROLETTERING : Numeral denominational value is visible under
magnifying glass between security thread and watermark.
INDIAN RUPEE
SECURITY FEATURES
IN CURRENCY NOTES
27. FLUORESCENCE: Number panels glow under ultra-violet light.
OPTICALLY VARIABLE INK: Notes of Rs. 500 and Rs. 1000 have their
numerals printed in optically variable ink. Number appears green
when note is held flat but changes to blue when viewed at angle.
BACK-TO-BACK REGISTRATION: Floral design printed on front and
back of note coincides when viewed against light.
INDIAN RUPEE
SECURITY FEATURES
IN CURRENCY NOTES
28. Till the year 1906 copper coins were issued
In 1906, bronze replaced the copper metal in coins.
in 1907, cupro-nickel 1 anna was introduced.
India's first coins after independence were issued in 1950.
The 1 naya paisa was bronze, the 2, 5 & 10 naye paise were
cupro-nickel & the 25 & 50 naye paise & 1 rupee were nickel.
INDIAN - COINS
29. In 1964, the word naya(e) was removed from all the coins.
Between 1964 & 1967, aluminum paise were introduced.
Between 1972 & 1975, cupro-nickel replaced nickel coins.
In 1988, stainless steel 10, 25 & 50 paise were introduced,
followed by 1 & 5 rupee coins in 1992.
INDIAN - COINS
30. Between 2005 & 2008, new, lighter coins, all struck in
ferritic stainless steel, were introduced.
The move was prompted by the melting down of older coins
whose face value was less than their scrap value.
The coins presently in circulation are 1, 2, 5 & 10 rupees.
Although valid, paise coins have become increasingly rare
in regular usage.
INDIAN - COINS
35. The currency is at present denoted simply by “Rs” or “INR” which
is short for Indian rupee, but these are not “symbols” but
“abbreviations” for the word ‘Rupee’.
On 15th of July 2010 cabinet, finalized the design for the Rupee.
An engineer, IIT post-graduate Uday Kumar has been honored. His
design out of five shortlisted ones is selected for the new symbol
of the Indian Rupee.
This symbol truly symbolizes
our Country , our traditions,
our nations Economy and its
currency
