RBI issues coins of INR 75, INR 150, INR 1000!

2015-12-12 Sat

Soon after the Government of India demonetised old 500 rupees notes and 1000 rupees notes in November 2016, several rumours were floating around the internet. Some of them were regarding designs of the latest 2000 rupees and 500 notes while there were many related to other new releases. To stay away from such rumours, you can always cross-check facts by referring official press releases that are published on RBI’s website. One of the rumours that made noise during the same time was about INR 75, INR 150 and INR 1000 coins released by Government of India.

Yes, it is true that RBI has issued Rs.1000 coins. Reserve Bank of India mints special coins of India to celebrate anniversaries, centenaries etc. For the first time, Indian coins of 75, 150 and 1000 were minted. These coins celebrate the Reserve Bank of India’s platinum jubilee, 150th birth anniversary of Rabindranath Tagore and 1000 years of Brihadeeswarar Temple respectively.

75 RS Coin of India Commemorating RBI’s Platinum Jubilee

The Reserve Bank of India is the central bank of the country which started in 1926 when the Hilton-Young Commission or the Royal Commission on Indian Currency and Finance made recommendation to the British Government of India for creation of a central bank. Hence on 1st April 1935, according to the provisions of the Reserve bank of India Act of 1934, RBI was established to issue modern coins. To celebrate RBI’s platinum jubilee year, a Rs. 75 coin was issued in 2010.

It was initially established to tackle the economic downfall after the First World War. The guidelines were presented by Dr. B. R. Ambedkar in his book called “The Problem of the Rupee – Its origin and its solution” to Hilton Young Commission. The commercial banks were nationalised in the 1950s and the Bank started offering loans for economic development.

150 Rs Indian Coin Commemorating 150th Birth Anniversary of Rabindranath Tagore

Rabindranath Tagore, born on 7th May 1861 was a Bengali writer, painter and a polymath. He was the first Non-European to receive a Nobel Laureate for Literature. He is the author of the nation’s National Anthem: India- Jana Gana Mana, Bangladesh- Amar Shonar Bangla. To celebrate Rabindranath Tagore’s 150th birth anniversary in 2010, RBI issued a Rs. 150 Indian coin.

Born on 7th May 1861, Rabindranath Tagore started writing poems when he was just 8 years old. His first collection of poems under the pseudonym, Bhanusimha ("Sun Lion"), was published when he was 16 years old. He started publishing short stories and dramas using his real name from 1877. He voiced his opinions strongly against the British Raj though his writings, paintings, songs and cartoons. He led the Bengal Renaissance and is also popular for introducing a special genre of music called Rabindra Sangeet.

1000 Rs Indian Coin Commemorating 1000 years of Brihadeeswarar Temple

Brihadeeswarar Temple commissioned by Raja Raja Chola I was completed in 1010 AD in Tanjavur, Tamil Nadu. This temple, of a Hindu God, Shiva, completed 1000 years of its existence in 2010. To commemorate the millennium, a Rs. 1000 Indian coin was issued by RBI.

Fortified walls of the Granite Temple were built in the 16th century. Its 216 ft temple tower is the tallest in the world and the 80 tons structure on the top, is carved out of a single rock. A 16 ft by 13 ft statue of Nandi, carved out of a single rock is situated near the entrance.

One must remember that these commemorative coins are not meant for regular circulation and are issued in limited numbers, unlike other circulating coins. That’s the reason why they are extremely popular among collectors!