Miscellaneous - This Day That Age   

dated June 5, 1956: Decimal coinage

Under the decimal coinage system which the Government of India have decided to introduce from April 1, 1957, there will be seven coins beginning from naya paisa to the rupee. These are: one naya paisa, two naye paise, five naye paise, 10 naye paise, 25 naye paise, 50 naye paise and 100 naye paise or one rupee. The rupee will remain the same both in nomenclature and value but all the other coins will be expressed in terms of naya paisa. To begin with, only coins of the denomination of one naya paisa, two, five and 10 naye paise will be in circulation as from April 1, 1957. Coins of the higher denominations will be introduced later. Till then, the existing quarter rupee, half-rupee and rupee coins will be used.

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