{"id":35679,"date":"2023-05-29T01:41:10","date_gmt":"2023-05-28T20:11:10","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=35679"},"modified":"2025-04-21T10:02:00","modified_gmt":"2025-04-21T04:32:00","slug":"rs-75-coin-released-on-new-parliament-inauguration-day","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/rs-75-coin-released-on-new-parliament-inauguration-day\/","title":{"rendered":"Rs 75 Coin Released on New Parliament Inauguration Day"},"content":{"rendered":"<h3><strong>What\u2019s in today\u2019s article?<\/strong><\/h3>\n<ul>\n<li><strong>Why in news?<\/strong><\/li>\n<li><strong>Minting of coins<\/strong><\/li>\n<li><strong>Printing of currency<\/strong><\/li>\n<li><strong>What are Commemorative coins?<\/strong><\/li>\n<li><strong>News Summary: Rs 75 coin released on new Parliament inauguration day<\/strong><\/li>\n<li><strong>What are the Features of the new commemorative coin?<\/strong><\/li>\n<li><strong>How one can get the commemorative coins?<\/strong><\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>Why in news?<\/strong><\/h2>\n<ul>\n<li>To mark the inauguration of the new Parliament building, Prime Minister Narendra Modi released a commemorative coin of Rs 75 denomination.<\/li>\n<li>India has been issuing commemorative coins since the 1960s for several reasons such as paying homage to notable personalities, spreading awareness about government schemes, or remembering key historic events.<\/li>\n<li>The country released its <u>first commemorative coin in 1964<\/u> in honour of Jawaharlal Nehru, who had passed away that year.\u00a0<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>Minting of coins<\/strong><\/h2>\n<ul>\n<li>The government has the power to design and mint coins in various denominations. It has been given this right under the <strong>Coinage Act, 2011<\/strong>.<\/li>\n<li>The <u>government decides on the quantity of coins to be minted on the basis of indents received from the RBI on a yearly basis<\/u>.\n<ul>\n<li>The role of the RBI is limited to the distribution of coins that are supplied by the central government.<\/li>\n<\/ul>\n<\/li>\n<li>Coins are minted in four mints owned by the Government of India in Mumbai, Hyderabad, Kolkata and Noida.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>Printing of currency<\/strong><\/h2>\n<ul>\n<li>Two of India\u2019s currency note <u>printing presses are in Nasik and Dewas<\/u>. These are owned by the Government of India,<\/li>\n<li>Two other <u>printing presses are in Mysore and Salboni<\/u>. These are owned by the RBI through its wholly owned subsidiary, Bharatiya Reserve Bank Note Mudran Ltd (BRBNML).<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>What are Commemorative coins?<\/strong><\/h2>\n<ul>\n<li><strong>About<\/strong>\n<ul>\n<li>A commemorative coin is a special coin issued to honor and celebrate a particular event, person, or significant milestone.<\/li>\n<li>These Coins are distinct from regular circulation coins in that they are not intended for everyday transactions but <u>rather serve as collectible items or gifts<\/u>.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Minting<\/strong>\n<ul>\n<li>The Government, through the Ministry of Finance, authorizes the issuance of commemorative coins to mark various occasions of national importance.<\/li>\n<li>These coins are minted by the <strong>Security Printing and Minting Corporation of India Limited (SPMCIL<\/strong>), which operates mints across the country.<\/li>\n<li>The RBI also issues special commemorative coins in limited quantities, primarily in precious metals, to honor eminent personalities, national achievements, or historical events.<\/li>\n<li>These coins are not intended for circulation but are primarily meant for numismatic purposes.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>News Summary: Rs 75 coin released on new Parliament inauguration day<\/strong><\/h2>\n<h2><strong>What are the Features of the new commemorative coin?<\/strong><\/h2>\n<ul>\n<li><strong>Shape and composition<\/strong>\n<ul>\n<li>The latest Rs 75 coin is circular in shape with a diameter of 44mm.<\/li>\n<li>The composition of the coin is of a quaternary alloy \u2014 50 per cent silver, 40 per cent copper, 5 per cent nickel and 5 per cent zinc.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Inscription<\/strong>\n<ul>\n<li>The face of the coin shall bear the Lion Capitol of Ashoka Pillar in the centre, with the legend &#8220;\u0938\u0924\u094d\u092f\u092e\u0947\u0935 \u091c\u092f\u0924\u0947&#8221; (Satyameva Jayate) inscribed below.<\/li>\n<li>It is flanked on the left periphery with the word \u201c\u092d\u093e\u0930\u0924\u201d (Bharat) in Devanagari script and on the right periphery the word \u201cINDIA\u201d in English.<\/li>\n<li>The other side of the coin displays an image of the new parliament building.<\/li>\n<li>The inscription \u201cSansad Sankul\u201d is written in Devanagari script on the upper periphery while the words \u201cParliament Complex\u201d in English on the lower periphery of the coin.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>How one can get the commemorative coins?<\/strong><\/h2>\n<ul>\n<li><strong>From where to get these coins?<\/strong>\n<ul>\n<li>If someone wants to acquire commemorative coins, they can do so by visiting the website of the Securities of Printing and Minting Corporation of India Limited (SPMCIL).<\/li>\n<\/ul>\n<\/li>\n<li><strong>Amount to be paid<\/strong>\n<ul>\n<li>Such coins are meant to be just collectables as their worth may not necessarily be the same as their face value.<\/li>\n<li>For instance, in 2018, the government issued a commemorative coin of Rs 100 denomination to honour former Prime Minister Atal Bihari Vajpayee.<\/li>\n<li>However, <u>it is currently available on SPMCIL\u2019s website for \u20b95,717<\/u>. This coin is 50 per cent silver, and has other metals.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3><strong>Q1)\u00a0What is Securities of Printing and Minting Corporation of India Limited (SPMCIL)?<\/strong><\/h3>\n<p>The Securities Printing and Minting Corporation of India Limited (SPMCIL) is a government-owned company in India that primarily engages in the printing of banknotes, coins, postage stamps, and other security documents. It was established in 2006 as a result of corporatizing the functions of the currency and security printing presses of the Government of India.<\/p>\n<p>&nbsp;<\/p>\n<h3><strong>Q2)<\/strong>\u00a0<strong>What is Bharatiya Reserve Bank Note Mudran Ltd (BRBNML)?<\/strong><\/h3>\n<p>Bharatiya Reserve Bank Note Mudran Limited (BRBNML) is a wholly-owned subsidiary of the Reserve Bank of India (RBI), the central bank of the country. Established in 1995, BRBNML is responsible for the printing of banknotes for the RBI.<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><strong>Source:\u00a0<\/strong><a href=\"https:\/\/indianexpress.com\/article\/explained\/explained-economics\/rs-75-coin-new-parliament-features-where-to-buy-8633604\/\" target=\"_blank\" rel=\"nofollow noopener\"><u>PM Modi releases Rs 75 coin on new Parliament inauguration day: Features, how to get it<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Under the Coinage Act 2011, the govt has power to design and mint coins in various denominations.<\/p>\n","protected":false},"author":5,"featured_media":35680,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[],"class_list":{"0":"post-35679","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-mains-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/35679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=35679"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/35679\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/35680"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=35679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=35679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=35679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}