New Rs 20 coin shaped as 12-edged polygon to be in circulation soon, says Finance Ministry Gazette notification
India's finance ministry, in a Gazette notification dated 6 March, has announced that Rs. 20 coins will soon be in circulation across the country. An exact date has not been specified for the release.
An exact date for the release has not been specified
The new Rs 20 coin's face will have the
The new Rs 20 coin will be a 27 mm, 12-edged polygon without any serrations
India's finance ministry, in an "extraordinary" Gazette notification dated 6 March, has announced that Rs 20 coins will soon be in circulation across the country.
An exact date for the release has not been specified. According to details in the Gazette, the new Rs 20 coin's face will have the "lion capitol of Ashoka Pillar with the legend inscribed below, flanked on the left periphery with the word in Hindi and on the right periphery with the word “INDIA” in English." On the other side will be the "design of grains depicting the agricultural dominance of the country".
The new Rs 20 coin will be a 27 mm, 12-edged polygon without any serrations. Other new coins - "One Rupee, Two Rupees, Five Rupees, Ten Rupees" - will also be minted in this round, says this Gazette note by the Department of Economic Affairs.
A list of currency in circulation now is linked here. Along with Government of India, the Reserve Bank of India is responsible for the design, production and overall management of India's currency. The Government of India is the issuing authority and the RBI puts the coins into circulation on behalf of the central government.
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The AIBEA said the move will make it more difficult for public sector banks to lend to weaker and priority sectors at concessional rates of interest
Private banks can now be equal partners in the development of the Indian economy, the Union finance minister added
The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of implementation of GST