The New Parliament Building of India under the Central Vista Project is all set to be inaugurated on May 28, 2023, by PM Modi. On this historic occasion, the centre will also release a special coin of Rs. 75 to mark the opening of the New Parliament Building.
In our country the Central Bank of India issues currency in the country, but the Ministry of Finance issues notes and coins of the denomination Rs. 1. The Ministry of Finance will also issue the new coins of Rs. 75 under the Section 6 of The Coinage Act, 2011.
This Rs. 75 coin is special in several ways. First, it is being launched to commemorate the launch of the New Parliament Building. Additionally, and perhaps most significantly, Prime Minister Narendra Modi will release this currency on Sunday as part of India’s 75th anniversary of independence.
Features of New Rs. 75 Coin
- The coin will be circular in shape with a diameter of 44 millimetres.
- The Rs. 75 coin will have 200 serrations along its edges.
- It will be made of four metals, including 50% silver, 40% copper, 5% nickel, and 5% zinc.
- The Lion Capital of the Ashoka Pillar will be depicted on the Rs. 75 coin, and “Satyamev Jayate” will be printed beneath it.
- The word “Bharat” will also be written on the coin’s left side in Devanagari script, while the word “India” will be written there on the right.
- The Rs. 75 coin will also have the image of the New Parliament Building.
- On the upper periphery of the coin, “Sansad Sankul” will be printed in Devanagari script, and on the lower periphery, “Parliament Complex” will be written in English.
- Below the lion capital, the coin will also carry the rupee symbol and the denomination value of 75 in international numerals.
A Rs. 75 coin is not a legal tender
The Rs. 75 coin will not be used for general circulation because the metallic value of the coin exceeds its legal value as half of the coin is made of silver. So, the general public will not be able to use this coin as legal tender as they use coins of Rs. 1, Rs. 2, Rs. 5, Rs. 10, and Rs. 20.
However, if someone wishes to purchase this unique coin, they can do so by visiting the SPMCIL (Securities of Printing and Minting Corporation of India Limited) website. As per the RBI, coins of a denomination equal to or higher than one rupee are legal tender for quantities not exceeding one thousand rupees with regard to the legal standing of government-issued coins.
FAQs
A. The coins of denomination rs. 75 will be launched by PM Narendra Modi.
A. The coins of denominations Rs. 75 will be issued by Ministry of Finance.
A. Individuals who wish to purchase this unique coin, they can do so by visiting the SPMCIL (Securities of Printing and Minting Corporation of India Limited) website.
A. This new Rs. 75 coin will not be used for general circulation because the metallic value of the coin exceeds its legal value as half of the coin is made of silver
A. The coin is made up of four metals, including 50% silver, 40% copper, 5% nickel, and 5% zinc.
