Author Topic: ₹1 Banknotes to Make Comeback in India  (Read 12248 times)

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Offline Venkatesh A J

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Re: ₹1 Banknotes to Make Comeback in India
« Reply #15 on: March 08, 2015, 12:47:04 PM »
New one Rupee Note-2015
"Coin collecting is the only hobby in the world that you can
spend all the money in the world and still have some left over"

Offline nomadbird

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Re: ₹1 Banknotes to Make Comeback in India
« Reply #16 on: March 08, 2015, 02:21:27 PM »
came out already:)
Thx
Nomadbird

Offline Pabitra

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Re: ₹1 Banknotes to Make Comeback in India
« Reply #17 on: March 08, 2015, 03:28:22 PM »
The life of note is less than two years.
The physical life of coin is 25 years but functional life is about 7 to 8 years in double digit inflation economy like India.
If existing 1 Rupee coin or denomination is expected to die its natural death in  less than 2 years, due to rising inflation then it makes sense to issue currency note.

This is usually done for lowest denomination.
In India, 50 paise is the lowest denomination and although the same was indented by MoF in 2014 as well as 2015, the mint did not produce it in 2014 and not likely to do so for 2015 too. Perhaps both 50 p and Re 1/- will be replaced by cheaper material coins or stopped altogether.

Usually, when it is done for higher denomination coins, it indicates that a new coin with lower cost is expected. It has been done for 5 Rupees by both Nepal and Pakistan in recent times.
« Last Edit: March 08, 2015, 04:42:55 PM by Pabitra »

Offline dheer

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Re: ₹1 Banknotes to Make Comeback in India
« Reply #18 on: March 09, 2015, 04:24:53 AM »
good stuff ... let me see when I can get my hands on one of them ...
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Offline Bimat

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₹1 Banknotes to Make Comeback in India
« Reply #19 on: March 09, 2015, 10:52:04 AM »
The color combination is indeed nice but it's still a foolish decision to print them. Scrap the ₹1 coins as well as notes!

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline dheer

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Re: ₹1 Banknotes to Make Comeback in India
« Reply #20 on: March 09, 2015, 12:39:26 PM »
The color combination is indeed nice but it's still a foolish decision to print them. Scrap the ₹1 coins as well as notes!

Aditya

Couldn't agree more. At least the design could have been new rather than the old design.
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Offline Bimat

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₹1 Banknotes to Make Comeback in India
« Reply #21 on: March 11, 2015, 05:44:53 AM »
This note has created quite some buzz. A couple of friends in my office (NOT collectors) were excited to hear this news. ;D One of them even told me to get a sample for him. :o

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline dheer

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Re: ₹1 Banknotes to Make Comeback in India
« Reply #22 on: March 11, 2015, 08:43:54 AM »
get a sample for him.

Aditya

sample  >:D >:D >:D
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Offline Bimat

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₹1 Banknotes to Make Comeback in India
« Reply #23 on: March 11, 2015, 09:08:00 AM »
Yeah, a sample. >:D

He wants to have a b'day ₹1 note for his daughter and anniversary note for his wife. I promised him to get them next month at Shukla Day Coin Fair... :)

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.


Offline dheer

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Re: ₹1 Banknotes to Make Comeback in India
« Reply #25 on: March 16, 2015, 10:36:59 AM »
http://articles.economictimes.indiatimes.com/2015-03-09/news/59931923_1_notes-legal-tender-the-coinage-act-2011
The article mentions "Printing of Rs 2 and Rs 5 notes too were discontinued in 1995. Since then, only coins have been issued for these denominations."

Quite incorrect. The Rs 5 was still being printed till 2011 I guess  :)
Looks like even Times of India is loosing standards and just printing whatever they like, anyone who's done proof reading would have noticed this error.
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Offline Bimat

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₹1 Banknotes to Make Comeback in India
« Reply #26 on: March 16, 2015, 10:40:43 AM »
Looks like even Times of India is loosing standards and just printing whatever they like, anyone who's done proof reading would have noticed this error.

No wonder many people call it 'Toilet Paper of India'. >:D

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline Bimat

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₹1 Banknotes to Make Comeback in India
« Reply #27 on: April 20, 2015, 06:32:59 AM »
The new ₹1 banknotes are yet to reach hands of dealers. I have been informed that they haven't been printed in large numbers.

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline dheer

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Re: ₹1 Banknotes to Make Comeback in India
« Reply #28 on: April 20, 2015, 08:17:13 AM »
The new ₹1 banknotes are yet to reach hands of dealers. I have been informed that they haven't been printed in large numbers.

Aditya

Humm already a rare item ... :)
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Offline Bimat

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₹1 Banknotes to Make Comeback in India
« Reply #29 on: May 10, 2015, 02:14:08 PM »
No plans to introduce Rs 15 currency notes: Govt

15:48 HRS IST

New Delhi, May 8 (PTI)

[...]

The Minister, however, said that the government had already announced to print Rs 1 note again from January 1.

"Accordingly, government had decided to print 150 million One Rupee notes per annum," Sinha said.

[...]

Source: PTI News
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.