2016-05-26 Thu

We carry change and notes in our pockets every day but very rarely do we take a close look at it. Here are some things that you might have never heard before about Indian banknotes and coins.

1. Very often we damage notes unknowingly or receive them from someone else. Here is a fact that will bring a smile on your face. If over 51 per cent of it is intact, you can get a new note issued at a bank.

2. You might have never read what’s written on Indian currency notes. Start doing that and you will notice that there are 17 languages on a bank note.

3. Even after independence Pakistan used Indian bank notes for transactions in their country with Pakistani stamp until they could print their own money.

4. So you though that Rs. 1,000 note is the highest denomination notes that were printed in India? Here’s a fact that will blow your mind: Between 1954 and 1978, Rs 5,000 and Rs 10,000 notes were in circulation.

5. Coins are sometimes not just used for transactions. Yes, Rs. 5 coins were used to make razors and smuggled in Bangladesh.

6. If you thought that the Governor signs all currencies in India, then you are wrong, finance ministry releases Re. 1 notes which are signed by their principal secretary.

7. And last but not the least; you must have thought that the cost of issuing a coin and the value of the coin would be same. No, the cost of minting a Rs. 10 coin is Rs. 6.10 only.