As informed by Finance Minister Nirmala Sitharaman during the Budget 2019 session at the Parliament, the Narendra Mod-led government is all set to roll out new series of coins of Re 1, Rs 2, Rs 5, Rs 10 and Rs 20 which were released by Prime Minister Modi on March 7, 2019.
Coins in this new series have been designed by the National Institute of Design with several differentiating features to make it easier for the visually impaired to identify them. The rolling out of new coins in circulation stands at around Rs 25,000 crore is reportedly taken on account of existing inflation levels in the economy. Issued by the Reserve Bank of India under provisions of the RBI Act, the coins are minted under the Coinage Act at Mumbai, Alipore, Saifabad and Noida.
The coins were released at a function at 7, Lok Kalyan Marg, where visually impaired children were specially invited. The Prime Minister expressed happiness in hosting them and thanked them for giving him an opportunity to interact with them.
Addressing the specially impaired children at the time, the Prime Minister had said, "Mahatma Gandhi used to say that every decision should be taken keeping in mind the last person of the society. Our government has considered this as our mantra."\
"We have taken many decisions to understand the problems of divyangs, their lives and help them to increase their confidence. There are more than 100 websites of Indian government which can be easily accessible by divyangas. A sensitivity has emerged in the government that keeps these things in mind before taking any new decision," he said.
The Prime Minister thanked the National Institute of Design for the design, Security Printing and Minting Corporation of India Limited and the Ministry of Finance for the introduction of new coins. During the interaction with the Prime Minister, the children thanked the Prime Minister for introducing the new series of coins. They added that these coins will greatly ease their daily routine.
The coins are characterized by increased size and weight from lower to higher denominations. The newly included coin of Rs.20 will be a 12 sided coin with no serrations. The rest of the denominations would be of the round shape.