New Rs 20 coin to come in circulation by May 31; Rs 2, Rs 5 coins to be launched by April 30
The first ever Rs 20 coin is expected to come into circulation in India by May 31 in India. Last month, the finance ministry had announced the roll out of the new series coins, including that of Rs 20.
The first ever Rs 20 coin is expected to come into circulation in India by May 31 in India. Last month, the finance ministry had announced the roll out of the new series coins, including that of Rs 20. According to a report by DNA, these coins will start rolling out from April 30. The new Rs 2 and Rs 5 coins will be the first to be launched and will come into circulation from April 30. They will be followed by the Re 1 coin, which will come into circulation by May 15. The coins of Rs 10 and Rs 20 will be rolled out by May 31.
The report quoted a finance ministry official as saying that the new denomination coins are generally introduced from time to time keeping inflation in view. The source revealed that the total value of coins in circulation stands at Rs 25,000 crore. The old series coins will remain in circulation even after the launch of new coins.
The new series coins are being minted under the Coinage Act at Mumbai, Alipore in Kolkata, Saifabad and Cheriapally in Hyderabad and Noida in Uttar Pradesh. They will be issued for for circulation by the Reserve Bank of India (RBI) under the provisions of the RBI Act.
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New Rs 20 coin features
The coin was unveiled by prime minister Narendra Modi, who said that they will go a long way in helping the visually impaired, and will instill confidence in them. The newly minted Rs 20 coin is 12 sided with no serrations. The rest of the denominations would be of the round shape.
The Rs 20 coin will have the Lion Capitol of Ashoka Pillar with the legend 'Satyamev Jayate' in Hindi inscribed below, flanked on the left periphery with the word 'Bharat' in Hindi and on the right periphery with the word “INDIA” in English. At the back, the coin will have the denominational value “20” in the international numerals. The Rupee symbol shall be shown above the denominational value. The left periphery of the coin will have the grains depicting the agricultural dominance of the country. The year of minting in international numerals will be shown in the centre of the left periphery of the coin.
The radius of the coin will be of 27 mm while its weight will be 8.54 grams. The coin's outer ring will be formed of Nickel Silver (Copper: 65%, Zinc: 15%, Nickel: 20%) while the inner part will be of Nickel Brass (Copper: 75%, Zinc: 20%, Nickel: 05%).