Tamil Nadu - Chennai   

New 5-rupee coin launched

— Photo: R. Shivaji Rao

The new 5-rupee coins.

CHENNAI: A new 5-rupee coin was launched in the city on Monday. Made of nickel and brass, which is an alloy of copper and zinc, the coin would soon be made available for circulation.

Officials of the Reserve Bank of India (Tamil Nadu and Puducherry) said the new coin was introduced in view of complaints about difficulties in differentiating between the coins in the denomination of five rupees and 50 paise. The new coin weighs only 6 gm and has a yellowish tinge as brass has been used.

While one face of the coin bears the Lion Capital of Ashoka Pillar with the lettering of ‘Satyameva Jeyathe’ inscribed in Hindi, the reverse side has the denominational value inscribed. The design of a bunch of lotus with leaf would also be inscribed on both edges. Moreover, there are 100 serrations on the edge of the coin, the officials said.

Deputy General Manager, Issue Department of RBI, T. Ranganathan said that Chennai region of RBI had received 250 bags of the new coins. Each bag consisted of 2,000 coins. The coins would be distributed at the counters in the RBI office on Rajaji Salai and through vending machines placed in various parts of the city.

The new coin would be made available through the 52 currency chests in the city next month.

While the life of coins is up to 20 years, the currency notes often got soiled or mutilated within a year, he said.

Mr. Ranganathan also highlighted the decreasing demand for 50 paise.

Though the RBI had sufficient stock of the coins, only a few people opted for them. Nearly 800 bags of coins in the denomination of 50 paise were received recently.

About 1,000 bags of the bi-metal Rs.10 coin are to be received soon from Delhi in order to meet the demand, he added.

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