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Question : 51 of 100
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Solution:
- Paper currency was first introduced in India by the British.
- The word Rupee is derived from the Sanskrit word 'Rupya' which means Silver.
- Arthashastra, written by Chanakya mentions silver coins as 'Rupyarupa'.
- The Rupee was first minted during Shershah Shuri's reign.
- The Indian Rupee is the official currency of India.
- The issuance of the currency in India is controlled by the Reserve Bank of India.
- Indian Rupee became an independent currency with the establishment of the Reserve Bank of India in 1935.
- The new rupee sign (₹) was designed by D. Udaya Kumar in 2010.
- The new rupee sign was derived from the combination of the Devanagari consonant and the Latin capital letter "R".
- The currency series of banknotes are called the Mahathma Gandhi series, introduced in 1996.
- The government of India announced the demonetization of ₹500 and ₹1,000 banknotes on 8 November 2016.
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