General Knowledge - Indian Economy - Discussion

Discussion :: Indian Economy - Indian Economy (Q.No.12)

12. 

India changed over to the decimal system of coinage in

[A]. April 1995
[B]. April 1957
[C]. April 1958
[D]. April 1959

Answer: Option B

Explanation:

No answer description available for this question.

Raji said: (Jan 4, 2011)  
What is coinage? will somebody please explain this?.

Bhaiya said: (Jan 14, 2011)  
Process of coining.

Naveen Kumar said: (Mar 6, 2011)  
What does it mean " change over to the decmal system to coinage"?

Sundar said: (Aug 23, 2011)  
In 1957, India shifted to the decimal system, but for a short period both decimal and non-decimal coins were in circulation. To distinguish between the two pice, the coins minted between 1957 and 1964 have the legend "Naya Paisa" ("new" paisa). The denominations in circulation were 1, 2, 5, 10, 20, 25, 50 (naya)paise and one rupee which remained as the same pre-decimal value. Therefore pre-decimal coins of one, half and quarter rupees could remain in circulation after decimalisation.

Priya Sinha said: (Sep 7, 2011)  
Decimal currencies have sub-units based on a factor of 10. These are most commonly 100 sub-units to the base currency unit, but currencies based on 1000 sub-units also exist, especially in Arab countries.

For example:
100 cents make one dollar in various countries.
1000 Tunisian millimes make one dinar.

S.Mohanasundaram said: (Mar 23, 2012)  
One rupees includ 100 paise . In olden days we were (our pioneer) used1,5,10,20,25, paise thats called coinage .

Sharan said: (Jan 23, 2014)  
@Mohanasundaram, The 5, 10, 20, 25 paises were not only used in olden days. In 1990s also were there.

Amol said: (Feb 6, 2014)  
But if we said that the change decimal system in 1957 so the use of the decimal currencies like 10 paise, 20 paise till 1998-99 so what it means?

Either produce currencies till 1957.

or

Collect the decimal currencies till 1988-99.

Anu said: (May 23, 2014)  
Before 1957 in circulations were Anna, 1-Rupee = 16 Anna.
1 Anna = 6 Paise approx.

Paise came to circulation after decimal system was adopted.
1-Rupee = 100 Paise.

Gautam said: (Jul 14, 2014)  
Indian coinage act 1956 was came into effect in 1957.

Syd said: (Dec 3, 2014)  
IN OLD DAYS 1 RUPEES = 64 PAISA.

BUT NOW 1 RUPEES =100 PAISA. SO IT WAS CHANGED IN 1957.

Ekambram said: (Jun 25, 2015)  
Who is a first head release in RBI in Indian rupees coins?

Hunain said: (May 9, 2016)  
The rupee remained unchanged in value and nomenclature. However, it was now divided into 100 'Paisa' instead of 16 Annas or 64 Pice.

Ratnakar said: (Nov 30, 2016)  
Before 1957 which currency in India govt introduces?

Badugu said: (Dec 8, 2016)  
Good information. Thanks.

Kanha said: (Mar 4, 2017)  
Thanks for providing this type of questions.

Nazir said: (Apr 16, 2017)  
Thanks to all your given information.

Shakti Sahoo said: (May 31, 2017)  
Very helpful explanation. Thanks all.

Nethravathi said: (Jul 19, 2017)  
Very helpful explanation, thank you all.

Liza said: (Oct 23, 2017)  
Thank you all for giving the GD knowledge.

Porinita Mohan said: (Aug 3, 2018)  
Thank you all for your information.

Khushabu said: (Jun 16, 2019)  
Very useful information, thank you all.

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