69-614: KIOCL Limited , formerly Kudremukh Iron Ore Company Limited, is a central public sector undertaking under the ownership of the Ministry of Steel , Government of India , with its head office and administrative activities in Bangalore . It has a pelletisation plant in Mangalore and an iron ore mine in Kudremukh ( Chikkamagaluru district ). The Kudremukh mine, one of the largest iron ore mines in
138-504: A Miniratna and have 4 independent directors on its board before it can be made a Navratna. PSUs in India are also categorized based on their special non-financial objectives and are registered under Section 8 of Companies Act , 2013 (erstwhile Section 25 of Companies Act, 1956). Public Sector Undertakings (PSUs) can be classified as Central Public Sector Undertakings (CPSUs) or State Public Sector Undertakings (SPSUs). CPSUs are administered by
207-660: A coin of silver, weighing 178 grains (or 11.53 grams), which was also termed the rupiya . During Babur 's time, the brass to silver exchange ratio was roughly 50:2. The silver coin remained in use during the Mughal period , Maratha era as well as in British India . Among the earliest issues of paper rupees include; the Bank of Hindustan (1770–1832), the General Bank of Bengal and Bihar (1773–1775, established by Warren Hastings ), and
276-515: A gold currency. This goal, if it was their goal, the Government of India have never attained. In 1913, John Maynard Keynes writes in his book Indian Currency and Finance that during the financial year 1900–1901, gold coins (sovereigns) worth £6,750,000 were given to the Indian people in the hope that they would circulate as currency. But against the expectation of the Government, not even half of that
345-521: A gold standard should be adopted without delay...they recommended (1) that the British sovereign be given full legal tender power in India, and (2) that the Indian mints be thrown open to its unrestricted coinage (for gold coins only). These recommendations were acceptable to both governments and were shortly afterwards translated into laws. The act making gold a legal tender was promulgated on 15 September 1899, and preparations were soon thereafter undertaken for
414-506: A revenue of about ₹24,430,000,000,000 + ₹1,000,000,000,000 during the financial year 2018–19. When India achieved independence in 1947, it was primarily an agrarian entity, with a weak industrial base. There were only eighteen state-owned Indian Ordnance Factories , previously established to reduce the dependency of the British Indian Army on imported arms. The British Raj had previously elected to leave agricultural production to
483-429: A self-sufficient, largely agrarian, communal village-based existence for India in the first half of the 20th century. Other contemporary criticisms of India's public sector targeted the lack of well-funded schools, public libraries, universities, hospitals and medical and engineering colleges; a lack seen as impeding an Indian replication of Britain's own industrialization in the previous century. Post-Independence,
552-497: A single coinage for the EIC was introduced. It consisted of copper 1 ⁄ 12 , 1 ⁄ 4 and 1 ⁄ 2 anna , silver 1 ⁄ 4 , 1 ⁄ 3 and 1 rupee and gold 1 and 2 mohurs. In 1841, silver 2 annas were added, followed by copper 1 ⁄ 2 pice in 1853. The coinage of the EIC continued to be issued until 1862, even after the company had been taken over by
621-627: Is denoted in %, as of 30 September 2024 ): Currently there are 43 Regional Rural Banks in India, as of 1 April 2020: Andhra Pradesh Arunachal Pradesh Assam Bihar Chhattisgarh Gujarat Haryana Himachal Pradesh Jammu and Kashmir Jharkhand Karnataka Kerala Madhya Pradesh Maharashtra Manipur Meghalaya Mizoram Nagaland Odisha Puducherry Punjab Rajasthan Tamil Nadu Telangana Tripura Uttar Pradesh Uttarakhand West Bengal Indian rupee The Indian rupee ( symbol : ₹ ; code : INR )
690-411: Is further classified into Strategic Sector and Non-Strategic Sector. Depending on their financial performance and progress, CPSUs are granted the status of Maharatna , Navaratna , and Miniratna (Category I and II). Following India's independence in 1947, the limited pre-existing industries were insufficient for sustainable economic growth . The Industrial Policy Resolution of 1956 , adopted during
759-483: Is highly sought after in India due to high pay and its job security , with most preferring candidates with a GATE score. In 1951, there were five PSUs under the ownership of the government. By March 2021, the number of such government entities had increased to 365. These government entities represented a total investment of about ₹ 16,410,000,000,000 as of 31 March 2019. Their total paid-up capital as of 31 March 2019 stood at about ₹200.76 lakh crore. CPSEs have earned
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#1733093783957828-524: Is rarely seen in circulation. The coins are minted at the four locations of the India Government Mint . The ₹ 1, ₹ 2, and ₹ 5 coins have been minted since independence. The Government of India is set to introduce a new ₹ 20 coin with a dodecagonal shape, and like the ₹ 10 coin, also bi-metallic, along with new designs for the new versions of the ₹ 1, ₹ 2, ₹ 5 and ₹ 10 coins, which was announced on 6 March 2019. The Government of India has
897-529: Is the official currency in India . The rupee is subdivided into 100 paise ( Hindi plural; singular: paisa ). The issuance of the currency is controlled by the Reserve Bank of India . The Reserve Bank manages currency in India and derives its role in currency management based on the Reserve Bank of India Act, 1934 . Pāṇini (6th to 4th century BCE) mentions rūpya ( रूप्य ). While Shankar Goyal mentions it
966-614: Is unclear whether Panini was referring to coinage, other scholars conclude that Panini uses the term rūpa to mean a piece of precious metal (typically silver) used as a coin, and a rūpya to mean a stamped piece of metal, a coin in the modern sense. The Arthashastra , written by Chanakya , prime minister to the first Maurya emperor Chandragupta Maurya ( c. 340–290 BCE ), mentions silver coins as rūpyarūpa . Other types of coins, including gold coins ( suvarṇarūpa ), copper coins ( tāmrarūpa ), and lead coins ( sīsarūpa ), are also mentioned. The immediate precursor of
1035-558: Is under the ownership of the Government of India or state governments .These type of firms can also be a joint venture of multiple PSUs. These entities perform commercial functions on behalf of the government. Depending on the level of government ownership, PSUs are officially classified into two categories: Central Public Sector Undertakings ( CPSUs ), owned by the central government or other CPSUs; and State Public Sector Undertakings ( SPSUs ), owned by state governments. CPSU and SPSU
1104-453: Is using blockchain distributed-ledger technology . British East India Company (EIC) was given the right in 1717 to mint coins in the name of the Mughal emperor Farrukhsiyar on the island of Bombay. By 1792 the EIC demonetised all other coins till they were reduced to only 3 types of coins, i.e. EIC, Mughal & Maratha coins. After EIC expanded its control over India, it brought the "Coinage Act of 1835" and started to mint coins in
1173-491: The Ministry of Heavy Industries and Public Enterprises . The Department of Public Enterprises (DPE), Ministry of Finance is the nodal department for all the Central Public Sector Undertakings (CPSUs). As of October 2021, there are 13 Maharatnas, 14 Navratnas and 72 Miniratnas (divided into Category 1 and Category 2). Currently there are 12 Nationalised Banks in India (Government Shareholding power
1242-590: The Planning Commission was formed by a cabinet resolution in March 1950 and the Industrial (Development and Regulation) Act was enacted in 1951 with the objective of empowering the government to take necessary steps to regulate industry. The first Prime Minister of India, Jawaharlal Nehru , promoted an economic policy based on import substitution industrialisation and advocated a mixed economy . He believed that
1311-654: The Private sector , with tea processing firms, jute mills (such as the Acland Mill ), railways , electricity utilities, banks, coal mines, and steel mills being just some of the economic entities largely owned by private individuals like the industrialist Jamsetji Tata . Other entities were listed on the Bombay Stock Exchange . Critics of private ownership of India's agricultural and industrial entities—most notably Mahatma Gandhi's independence movement—instead advocated for
1380-507: The Reserve Bank in terms of the RBI Act . After independence, the Government of India Mint , minted numismatics coins imprinted with Indian statesmen, historical and religious figures. In the years 2010 and 2011, for the first time ever, ₹ 75, ₹ 150 and ₹ 1000 coins were minted in India to commemorate the Platinum Jubilee of the Reserve Bank of India , the 150th birth anniversary of
1449-411: The Reserve Bank of India (RBI). In 1997 the 20 paise coin was discontinued, followed by the 10 paise coin in 1998, and the 25 paise in 2002. Between 2005 and 2008 new, lighter fifty-paise, one-, two-, and five-rupee coins were introduced, made from ferritic stainless steel. The move was prompted by the melting-down of older coins, whose face value was less than their scrap value. The demonetisation of
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#17330937839571518-566: The Royal Mint in Sydney . In an 1864 attempt to make the British gold sovereign the "imperial coin", the treasuries in Bombay and Calcutta were instructed to receive (but not to issue) gold sovereigns; therefore, these gold sovereigns never left the vaults. As the British government gave up hope of replacing the rupee in India with the pound sterling , it realised for the same reason it could not replace
1587-689: The Second Five-Year Plan , laid the framework for PSUs. The government initially prioritized strategic sectors, such as communication, irrigation, chemicals, and heavy industries , followed by the nationalisation of corporations . PSUs subsequently expanded into consumer goods production and service areas like contracting, consulting, and transportation. Their goals include increasing exports, reducing imports, fostering infrastructure development, driving economic growth, and generating job opportunities. Each PSU has its own recruitment rules and employment in PSUs
1656-734: The silver dollar in the Straits Settlements with the Indian rupee (as the British East India Company had desired). Since the silver crisis of 1873 , several nations switched over to a gold exchange standard (wherein silver or banknotes circulate locally but with a fixed gold value for export purposes), including India in the 1890s. In 1870, India was connected to Britain by a submarine telegraph cable. Around 1875, Britain started paying India for exported goods in India Council (paper) Bills (instead of silver). If, therefore,
1725-782: The 125th anniversary of the births of Sarvepalli Radhakrishnan and B. R. Ambedkar , respectively. The three Presidencies established by the British East India Company ( Bengal , Bombay and Madras ) each issued their own coinages until 1835. All three issued rupees and fractions thereof down to 1 ⁄ 8 - and 1 ⁄ 16 -rupee in silver. Madras also issued two-rupee coins. Copper denominations were more varied. Bengal issued one- pie , 1 ⁄ 2 -, one- and two- paise coins. Bombay issued 1-pie, 1 ⁄ 4 -, 1 ⁄ 2 -, 1-, 1 1 ⁄ 2 -, 2- and 4-paise coins. In Madras, there were copper coins for two and four pies and one, two and four paise, with
1794-403: The 25-paise coin and all paise coins below it took place, and a new series of coins (50 paise – nicknamed athanni – one, two, five, and ten rupees with the new rupee sign) were put into circulation in 2011. In 2016 the 50 paise coin was last minted. Coins commonly in circulation are one, two, five, ten, and twenty rupees. Although it is still legal tender, the 50-paise ( athanni ) coin
1863-597: The Bengal Bank (1784–91). –1900) Historically, the rupee was a silver coin . This had severe consequences in the nineteenth century when the strongest economies in the world were on the gold standard (that is, paper linked to gold). The discovery of large quantities of silver in the United States and several European colonies caused the panic of 1873 which resulted in a decline in the value of silver relative to gold, devaluing India's standard currency. This event
1932-471: The Committee of 1898 by Mr. A. M. Lindsay, in proposing a scheme closely similar in principle to that which was eventually adopted, has been largely fulfilled. "This change," he said, "will pass unnoticed, except by the intelligent few, and it is satisfactory to find that by this almost imperceptible process, the Indian currency will be placed on a footing which Ricardo and other great authorities have advocated as
2001-590: The Crown . In 1862, coins were introduced (known as "regal issues") which bore the profile of Queen Victoria and the designation "India". Their denominations were 1 ⁄ 12 anna , 1 ⁄ 2 pice , 1 ⁄ 4 and 1 ⁄ 2 anna (all in copper), 2 annas, 1 ⁄ 4 , 1 ⁄ 2 and one rupee (silver), and five and ten rupees and one mohur (gold). The gold denominations ceased production in 1891, and no 1 ⁄ 2 -anna coins were issued after 1877. In 1906, bronze replaced copper for
2070-496: The First World War. In the early 1940s, several changes were implemented. The 1 ⁄ 12 anna and 1 ⁄ 2 pice ceased production, the 1 ⁄ 4 anna was changed to a bronze, holed coin , cupro-nickel and nickel-brass 1 ⁄ 2 -anna coins were introduced, nickel-brass was used to produce Mintsomeone- and two-annas coins, and the silver composition was reduced from 91.7 to 50 per cent. The last of
2139-461: The Government as to have precipitated an internal crisis, which would have been fatal to British success in the war. From 1931 to 1941, the United Kingdom purchased large amounts of gold from India and its many other colonies just by increasing price of gold, as Britain was able to pay in printable paper currency. Similarly, on 19 June 1934, Roosevelt made Silver Purchase Act (which increased
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2208-503: The India Council in London should not step in to sell bills on India, the merchants and bankers would have to send silver to make good the (trade) balances. Thus a channel for the outflow of silver was stopped, in 1875, by the India Council in London. The great importance of these (Council) Bills, however, is the effect they have on the Market Price of Silver: and they have in fact been one of
2277-626: The Indian rupee replaced the Danish Indian rupee in 1845, the French Indian rupee in 1954 and the Portuguese Indian escudo in 1961. Following the independence of India in 1947 and the accession of the princely states to the new Union , the Indian rupee replaced all the currencies of the previously autonomous states (although the Hyderabadi rupee was not demonetised until 1959). Some of
2346-552: The Kudremukh National Park, refurbishing some of its unused buildings since the closure of the mine. The project had not obtained an environmental clearance. In October 2016 the Ministry of Environment and Forests ordered to stop the work immediately. Public Sector Undertakings in India Public Sector Undertakings ( PSU ) in India are government-owned entities in which at least 51% of stake
2415-424: The best of all currency systems, viz., one in which the currency media used in the internal circulation are confined to notes and cheap token coins, which are made to act precisely as if they were bits of gold by being made convertible into gold for foreign payment purposes. The committee concurred in the opinion of the Indian government that the mints should remain closed to the unrestricted coinage of silver and that
2484-472: The birth of Rabindranath Tagore and 1000 years of the Brihadeeswarar Temple , respectively. In 2012, a ₹ 60 piececoins was also issued to commemorate 60 years of the Government of India Mint, Kolkata. ₹ 100 coin was also released commemorating the 100th anniversary of Mahatma Gandhi 's return to India. Commemorative coins of ₹ 125 were released on 4 September 2015 and 6 December 2015 to honour
2553-758: The central government established the higher Maharatna category, which raises a public sector unit's investment ceiling from ₹1,000 crore to ₹5,000 crores. The Maharatna public sector units can now decide on investments of up to 15 per cent of their net worth in a project while the Navaratna companies could invest up to ₹1,000 crore without explicit government approval. Two categories of Miniratnas afford less extensive financial autonomy. Guidelines for awarding Ratna status are as follows: The average annual Net worth of ₹10,000 crores for three years, OR Average annual Turnover of ₹20,000 crore for three years (against Rs 25,000 crore prescribed earlier) A PSU must first be
2622-406: The coinage of gold sovereigns in the mint at Bombay. Silver, therefore, has ceased to serve as, and standard; and the Indian currency system of to-day (that is 1901) may be described as that of a "limping" gold standard similar to the systems of France, Germany, and Holland, and the United States. The Committee of 1898 explicitly declared themselves to be in favour of the eventual establishment of
2691-423: The crisis, the government began divesting its ownership of several PSUs to raise capital and privatize companies facing poor financial performance and low efficiency. The public sector undertakings are headed by the head of board of directors also known as chairperson cum managing director cum chief executive officer and a vice chairperson cum deputy managing director cum co-chief executive officer along with
2760-536: The currency of India through the British Raj and beyond. In 1835, British India adopted a mono-metallic silver standard based on the rupee coin; this decision was influenced by a letter written by Lord Liverpool in 1805 extolling the virtues of mono-metallism. Following the First War of Independence in 1857, the British government took direct control of India. From 1851, gold sovereigns were produced en masse at
2829-563: The establishment of basic and heavy industry was fundamental to the development and modernisation of the Indian economy. India's second five year plan (1956–60) and the Industrial Policy Resolution of 1956 emphasized the development of public sector enterprises to meet Nehru's national industrialisation policy. His vision was carried forward by V. Krishnamurthy , a figure known as the "Father of Public sector undertakings in India". Indian statistician Prasanta Chandra Mahalanobis
Kudremukh Iron Ore Company - Misplaced Pages Continue
2898-654: The first two denominated as 1 ⁄ 2 and one dub (or 1 ⁄ 96 and 1 ⁄ 48 ) rupee. Madras also issued the Madras fanam until 1815. All three Presidencies issued gold mohurs and fractions of mohurs including 1 ⁄ 16 , 1 ⁄ 2 , 1 ⁄ 4 in Bengal, 1 ⁄ 15 (a gold rupee) and 1 ⁄ 3 (pancia) in Bombay and 1 ⁄ 4 , 1 ⁄ 3 and 1 ⁄ 2 in Madras. In 1835,
2967-504: The following year, both the quantity and the price rose further: net exports totalled 8.4 million ounces, valued at INR 65.52 crore. In the ten years ended March 1941, total net exports were of the order of 43 million ounces (1337.3 tons) valued at about INR 375 crore, or an average price of INR 32-12-4 per tola. In the autumn of 1917 (when the silver price rose to 55 pence ), there was danger of uprisings in India (against paper currency) which would handicap seriously British participation in
3036-505: The global market so as to "support [them] in their drive to become global giants". Financial autonomy was initially awarded to nine PSUs as Navratna status in 1997. Originally, the term Navaratna meant a talisman composed of nine precious gems. Later, this term was adopted in the courts of the Gupta emperor Vikramaditya and Mughal emperor Akbar , as the collective name for nine extraordinary courtiers at their respective courts. In 2010,
3105-409: The gold that was sold. However, the price of gold in India, on the basis of the official exchange rate of the rupee around 1 s. 6 d ., was lower than the price prevailing abroad practically throughout ; the disparity in prices made the export of the metal profitable; and this continued for almost a decade. Thus, in 1931–32, there were net exports of 7.7 million ounces , valued at INR 57.98 crore . In
3174-414: The lowest three denominations; in 1907, a cupro-nickel one-anna coin was introduced. In 1918–1919 cupro-nickel two-, four- and eight-annas were introduced, although the four- and eight-annas coins were only issued until 1921 and did not replace their silver equivalents. In 1918, the Bombay mint also struck gold sovereigns and 15-rupee coins identical in size to the sovereigns as an emergency measure during
3243-715: The members of the board of directors also known as executive director cum c-level officer who are Group 'A' gazetted officers appointed by the President of India in case of central public sector undertakings, its subsidiaries & its divisions and appointed by the Governor of States of India in case of state public sector undertakings, its subsidiaries & its divisions. All of the public sector undertakings have been awarded additional financial autonomy. Public Sector Undertakings are government establishments that have comparative advantages", giving them greater autonomy to compete in
3312-554: The more convenient forced loans of paper money۔ The Indian Currency Committee or Fowler Committee was a government committee appointed by the British-run Government of India on 29 April 1898 to examine the currency situation in India. They collected a wide range of testimony, examined as many as forty-nine witnesses, and only reported their conclusions in July 1899, after more than a year's deliberation. The prophecy made before
3381-620: The most potent factors in recent years in causing the diminution in the Value of Silver as compared to Gold. The Indian and Chinese products for which silver is paid were and are, since 1873–74, very low in price, and it therefore takes less silver to purchase a larger quantity of Eastern commodities. Now, on taking the several agents into united consideration, it will certainly not seem very mysterious why silver should not only have fallen in price The great nations had recourse to two expedients for replenishing their exchequers, – first, loans, and, second,
3450-637: The name of the British king. EIC rule was replaced by British Crown raj which brought the "Paper Currency Act of 1861" and the "Uniform Coinage Act of 1906". After 2021, the government of independent India amended "The Coinage Act, 2011", the " Foreign Exchange Management Act (FEMA), 1999," the " Information Technology Act, 2000 " and the "Crypto-currency and Regulation of Official Digital Currency Bill, 2021". India's first coins after independence were issued in 1950 in denominations of 1 pice , 1 ⁄ 2 , one and two annas, 1 ⁄ 4 , 1 ⁄ 2 and one-rupee . The sizes and composition were
3519-489: The national consensus turned in favor of rapid industrialisation of the economy, a process seen as the key to economic development, improved living standards and economic sovereignty. Building upon the Bombay Plan , which noted the necessity of government intervention and regulation in the economy, the first Industrial Policy Resolution announced in 1948 laid down in broad strokes such a strategy of industrial development. Later,
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#17330937839573588-477: The only right to mint the coins and one rupee note. The responsibility for coinage comes under the Coinage Act, 1906 which is amended from time to time. The designing and minting of coins in various denominations is also the responsibility of the Government of India. Coins are minted at the four India Government Mints at Mumbai , Kolkata , Hyderabad , and Noida . The coins are issued for circulation only through
3657-435: The price of silver) and purchased about 44,000 tons of silver, paying with paper silver certificates . In 1939, Dickson H. Leavens wrote in his book Silver Money : "In recent years the increased price of gold, measured in depreciated paper currencies, has attracted to the market (of London) large quantities (of gold) formerly hoarded or held in the form of ornaments in India and China". In their respective former colonies,
3726-523: The rupee is the rūpiya —the silver coin weighing 178 grains minted in northern India, first by Sher Shah Suri during his brief rule between 1540 and 1545, and later adopted and standardized by the Mughal Empire . The weight remained unchanged well beyond the end of the Mughals until the 20th century. The history of the Indian rupee traces back to ancient India around the 6th century BCE: ancient India
3795-475: The same as the final regal issues, except for the one-piece (which was bronze, but not holed). The first decimal-coin issues in India consisted of 1 , 2 , 5 , 10, 25 and 50 naye paise , and 1 rupee . The 1 naya paisa was bronze; the 2, 5, and 10 naye paise were cupro-nickel, and the 25 naye paise (nicknamed chawanni ; 25 naye paise equals 4 annas ), 50 naye paise (also called athanni ; 50 naye paise equalled 8 old annas) and 1-rupee were nickel. In 1964,
3864-552: The states had issued rupees equal to those issued by the British (such as the Travancore rupee ). Other currencies (including the Hyderabadi rupee and the Kutch kori ) had different values. The values of the subdivisions of the rupee during British rule (and in the first decade of independence) were: In 2010, a new rupee sign ( ₹ ) was officially adopted. As its designer explained, it
3933-537: The symbols for multiple rupees and one rupee, respectively, and these symbols are still used in situations where the official symbol is unavailable. The Digital Rupee (e₹) or eINR or E-Rupee is a tokenised digital version of the Indian Rupee , issued by the Reserve Bank of India (RBI) as a central bank digital currency (CBDC). The Digital Rupee was proposed in January 2017 and launched on 1 December 2022. Digital Rupee
4002-504: The then Chancellor of the Exchequer (finance minister) of the United Kingdom, Winston Churchill , restored it to pre-war levels. As a result, the price of gold fell rapidly. While the rest of Europe purchased large quantities of gold from the United Kingdom, there was little increase in her gold reserves. This dealt a blow to an already deteriorating British economy. The United Kingdom began to look to its possessions as India to compensate for
4071-413: The war. Inconvertibility (of paper currency into coin) would lead to a run on Post Office Savings Banks . It would prevent the further expansion of (paper currency) note issues and cause a rise of prices, in paper currency, that would greatly increase the cost of obtaining war supplies for export; to have reduced the silver content of this historic [rupee] coin might well have caused such popular distrust of
4140-559: The word rūpyarūpa : rūpya 'wrought silver' and rūpa 'form'. The Gupta Empire produced large numbers of silver coins clearly influenced by those of the earlier Western Satraps by Chandragupta II . The silver Rūpaka ( Sanskrit : रूपक ) coins were weighed approximately 20 rattis (2.2678g). In the intermediate times there was no fixed monetary system as reported by the Da Tang Xi Yu Ji . During his five-year rule from 1540 to 1545, Sultan Sher Shah Suri issued
4209-586: The words naya / naye were removed from all coins. Between 1957 and 1967, aluminium one -, two -, three -, five - and ten-paise coins were introduced. In 1968 nickel-brass 20-paise coins were introduced, and replaced by aluminium coins in 1982. Between 1972 and 1975, cupro-nickel replaced nickel in the 25- and 50-paise and the 1-rupee coins; in 1982, cupro-nickel two-rupee coins were introduced. In 1988 stainless steel 10-, 25- and 50-paise coins were introduced, followed by 1- and 5-rupee coins in 1992. Five-rupee coins, made from brass , are being minted by
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#17330937839574278-569: The world, was closed in 2006. The captive mining took place at Kudremukh on the Western Ghats range. The mined ore was transported 110 km through slurry pipelines running through the districts of Udupi and Dakshina Kannada up to the pelletisation plant in Panambur , adjacent to the premises of the New Mangalore Port . The pellet plant, with a capacity of 3.5 million tons per annum,
4347-510: Was banned and the Japanese rupee (1942–44) was introduced. At the onset of the First World War , the cost of gold was very low and therefore the pound sterling had high value. But during the war, the value of the pound fell alarmingly due to rising war expenses. At the end of the war, the value of the pound was only a fraction of what it had been before the war. It remained low until 1925, when
4416-467: Was commissioned at Mangalore in 1987. The plant was stopped in 2011 but in 2014, it resumed producing and exporting pellets, running on ores supplied by NMDC Limited . The pellets have been shipped to countries like China, Iran, Japan, and Taiwan. In 2017, there were plans to restart captive mining operations, now at Sanduru in the Bellary district . In 2016, KIOCL planned to develop a commercial resort in
4485-585: Was derived from the combination of the Devanagari consonant " र " ( ra ) and the Latin capital letter "R" without its vertical bar. The parallel lines at the top (with white space between them) are said to make an allusion to the flag of India , and also depict an equality sign that symbolises the nation's desire to reduce economic disparity . The first series of coins with the new rupee sign started in circulation on 8 July 2011. Before this, India used " ₨ " and "Re" as
4554-482: Was instrumental to its formulation, which was later termed the Feldman–Mahalanobis model . In 1969, Indira Gandhi 's government nationalised fourteen of India's largest private banks, and an additional six in 1980. This government-led industrial policy, with corresponding restrictions on private enterprise, was the dominant pattern of Indian economic development until the 1991 Indian economic crisis . After
4623-562: Was known as "the fall of the rupee". In Britain War, the Long Depression resulted in bankruptcies, escalating unemployment, a halt in public works, and a major trade slump that lasted until 1897. India was unaffected by the imperial order-in-council of 1825, which attempted to introduce British sterling coinage to the British colonies. India, at that time, was controlled by the British East India Company . The silver rupee coin continued as
4692-491: Was one of the earliest issuers of coins in the world, along with the Chinese wen and Lydian staters . Arthashastra , written by Chanakya , Prime minister to the first Maurya emperor Chandragupta Maurya (c. 340–290 BCE), mentions silver coins as rūpyarūpa , other types including gold coins (suvarṇarūpa), copper coins (tamrarūpa) and lead coins (sīsarūpa) are mentioned. Rūpa means 'form' or 'shape'; for example, in
4761-471: Was returned to accounts. As this experiment failed spectacularly, the government abandoned the practice but did not abandon the narrative of the gold standard. Subsequently, much of the gold held by the Government of India was shipped to the Bank of England in 1901 and held there. During World War II , Colonial British control over parts of Nagaland was lost to Japanese forces , the British Indian rupee
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