The Indian rupee was decimalised, that is divided into one hundred smaller units, in which year?
- A.1935
- B.1947
- C.1957
- D.1964
Correct answer
Explanation
The correct answer is C, 1957. With effect from 1 April 1957 the rupee ceased to be divided into sixteen annas and sixty-four pice and was divided instead into one hundred units, called naye paise at first and, from 1964, simply paise. Option A is wrong because 1935 is the year the Reserve Bank of India was established, on 1 April, after which it took over the issue of banknotes. Option B is wrong because independence in 1947 brought no immediate change in the coinage, which continued in the old pattern for some years. Option D is wrong because 1964 is only the year the word naya was dropped from the name of the coin. Keep the three dates apart: 1935 the Reserve Bank, 1957 decimalisation, 1964 the change of name.
Read the full article: Coins and Currency in Indian History: Exam Notes
Practice Questions
View allThe earliest coins of India, stamped with separate symbols and carrying no legend, are known as
- A.Punch-marked coins
- B.Dinara coins
- C.Jital coins
- D.Potin coins
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These are the oldest Indian coins, mostly silver pieces cut into irregular shapes and impressed with symbols punched one at a time, such as the sun, a six-armed wheel, hills, trees and animals.
Read the full explanation →The silver tanka and the copper jital were introduced in India by which ruler?
- A.Qutb-ud-din Aibak
- B.Iltutmish
- C.Alauddin Khalji
- D.Firoz Shah Tughlaq
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Iltutmish gave the Delhi Sultanate its standard coinage by issuing the silver tanka and the copper jital, with purely Arabic legends and the name of the mint, and this pair remained the basis of Sultanate currency.
Read the full explanation →The token currency of brass and copper, made legal tender at the value of silver, was issued by
- A.Balban
- B.Muhammad bin Tughlaq
- C.Sikandar Lodi
- D.Akbar
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In 1329 or 1330 he issued brass and copper tokens declared to be worth a silver tanka.
Read the full explanation →The silver coin called rupiya, the ancestor of the modern Indian rupee, was first issued by
- A.Sher Shah Suri
- B.Humayun
- C.Akbar
- D.Jahangir
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As part of his reform of the currency he issued a silver coin of about one hundred and seventy-eight grains called the rupiya, together with a copper dam and a gold mohur, and fixed their rates of exchange.
Read the full explanation →Coins bearing the twelve signs of the zodiac were issued by which Mughal emperor?
- A.Akbar
- B.Jahangir
- C.Shah Jahan
- D.Aurangzeb
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Jahangir struck a celebrated series of gold and silver coins showing the twelve signs of the zodiac, and another series carrying his own portrait, which is unusual in Islamic coinage; he also issued coins in the name of Nur Jahan.
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