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10 rupee coin to be made available

india Updated: Aug 03, 2008 19:09 IST

IANS
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Ending a long wait, the ten rupee coin would soon become available in the market, an official source at the government mint in Noida said.

The ten rupee coin will have a diameter greater than that of the two rupee coin. "The weight of the coin would be 8 gram and diameter would be 28 millimetres," the source said.

The mint, located in sector 1, Noida, has been minting the ten rupee coins for the past seven months on the instructions of the Reserve Bank of India. It now has coins worth Rs.70 million stored in its stock, the source added.

Besides ten rupee coins, the facility is minting 50 paisa coins also to overcome coins-shortage in the market.

The National Institute of Design, Ahmedabad, has prepared the design for the ten rupee coin.

Coins are minted at the five Government Mints at Mumbai, Alipore in Kolkata, Saifabad in Hyderabad, Cherlapally in Hyderabad and Noida in Uttar Pradesh.

Coins in India are presently being issued in denominations of 10 paise, 20 paise, 25 paise, 50 paise, one rupee, two rupees and five rupees. Coins upto 50 paise are called 'small coins' and coins of Rupee one and above are called 'Rupee Coins'. Coins can be issued up to the denomination of Rs.1000 as per the Coinage Act, 1906.