What material is used to make the Indian Rupee note?
If I ask this question, about 90% of people would say 'Paper'. But, it is not made up of paper. It is 100% pure cotton.
Here is another question...
These days we are seeing brass, bi-metallic, alloy and various cheap material coins. Earlier, we used to have all our coins made of stainless steel. Government decided to reduce the use of steel and replace steel with low-cost alloys.
The reason behind this decision:
The ever- rising prices of stainless-steel have made these coins worth less than their original metal value. This has led to high level of shortage of coins in parts of India. It seems that, major portion of this 'chillar paisa' or 'chuttaa' goes to the North-East where there are many tiny-scale industries which melt these coins and manufacture stainless steel razor blades out of it. The blades are then smuggled out of the country for sale in Bangladesh. Now, it is estimated that, with one 1/- coin, we can prepare 5-6 blades. So, on an average, value of 1/- is equal to 30 rupees (Bangladeshi Takas) . So, government decided to introduce brass/alloy coins in-order to reduce the illegal melting of coins by individuals and using the steel to manufacture razor blades.
This coin-for-blades concept came into light when the police in Kolkata arrested a grocer and seized a huge coin melting unit. The coin shortage was so high in those days that... the tea estate managers of Assam had to give card board coins in place of original coins to the workers which have validity in their gardens since they never had coins with them.
Indian History has already seen the consequences of introducing copper coins in the place of silver coins by Muhammad-Bin-Tughlaq of Delhi Sultanate. That decision in those days resulted in turning every house of Delhi into a mint and hence helped in depreciating the value of currency.
Now, I could say that we have advanced a lot in this aspect. We have created history in increasing the coin's value.
Who says.. India is not advanced....?
If I ask this question, about 90% of people would say 'Paper'. But, it is not made up of paper. It is 100% pure cotton.
Here is another question...
Why steel coins are replaced with Brass and bi-metallic coins these days?
These days we are seeing brass, bi-metallic, alloy and various cheap material coins. Earlier, we used to have all our coins made of stainless steel. Government decided to reduce the use of steel and replace steel with low-cost alloys.
The reason behind this decision:
The ever- rising prices of stainless-steel have made these coins worth less than their original metal value. This has led to high level of shortage of coins in parts of India. It seems that, major portion of this 'chillar paisa' or 'chuttaa' goes to the North-East where there are many tiny-scale industries which melt these coins and manufacture stainless steel razor blades out of it. The blades are then smuggled out of the country for sale in Bangladesh. Now, it is estimated that, with one 1/- coin, we can prepare 5-6 blades. So, on an average, value of 1/- is equal to 30 rupees (Bangladeshi Takas) . So, government decided to introduce brass/alloy coins in-order to reduce the illegal melting of coins by individuals and using the steel to manufacture razor blades.
This coin-for-blades concept came into light when the police in Kolkata arrested a grocer and seized a huge coin melting unit. The coin shortage was so high in those days that... the tea estate managers of Assam had to give card board coins in place of original coins to the workers which have validity in their gardens since they never had coins with them.
Indian History has already seen the consequences of introducing copper coins in the place of silver coins by Muhammad-Bin-Tughlaq of Delhi Sultanate. That decision in those days resulted in turning every house of Delhi into a mint and hence helped in depreciating the value of currency.
Now, I could say that we have advanced a lot in this aspect. We have created history in increasing the coin's value.
Who says.. India is not advanced....?
informative! nice one.
ReplyDeleteThanks Rahul :-)
ReplyDeleteinteresting!
ReplyDelete