RAGS TO RUPEES

"Money is everything
when we doesn't have anything"

Hello Readers !!!

        Now a days, we are living in a society where money matters. But it was not in a trend in ancient times. The Barter system was followed 6000yrs ago. It's just interchanging of goods, mainly used for food items and weapons. Military forces were paid salt as their salary at that times. It denotes the importance of bartering in those days. Interchanging of goods was the main advantage of this method. Similarly it also had few disadvantages. There will be a lack of trust between seller and buyer. They don't have any proof for the transaction. Also there will be chances of damage items in the interchanged goods.

        To overcome those insecurity problems, the concept of currency had introduced 5000 years ago. At that time, it is mainly used as a proof document for food items stored in temple. At begining time, the money has no value. After that, it was recognized as a self-valuable one.


         Coins were first made in copper, silver, gold and bronze. But it haven't any proper shape. After that, proper shape (round shape) and specific weight had given to it.


        Shekel had been known as the first form of currency. Indian currency is represented in terms of Rupees. This was introduced in 1540 under the regime of Sher Shah Suri, a Mughal emperor. In 1770, the Bank of Hindostan in association with General bank of Bengal and Bihar and Bengal Bank, they introduced those coins. 


        On April 1 1935, Reserve Bank was initiated. In 1938, they published first 5 rupees note followed by 10rs, 100rs, 1000rs. First 500 rs note was launched in the year 1987. First 1rs, 5rs coins was proposed in 1988. During the year of 1996, they published first rupee notes with Gandhiji's face.


        There is a general opinion among people that indian currencies are printed by using paper. But it's not the one. The awful thing is that it is being printed by using cotton rags. It's nothing, just a waste cloth we use in our homes. When printing inks are printed on the cotton rags, it delivers the sweet smell which is the most favourite of all. Thats why rupee notes aren't teared easily though they fall in water.The coins are free from corrosion. The reason behind is stainless steel. You may have seen a golden coloured 5 rupee coin that is being printed by using brass.

        Many of us may think how the rupee notes reach us from printing presses. The new currencies from the printing press first distributed to all RBI issue offices in India. Totally there are 19 issue offices and Chennai is one among them. From those issue offices, new currency notes are passed to respective banks. An average of 2,10,000 crores value of money to be printed per year. 


        We noted that indian currency will have a unique serial number which is used to calculate the total amount that has been printed in a particular time. The serial number consists of 9 characters with the seperation of 3 and 6 characters. It has a separate procedure. The 1rs, 2rs, 5rs, 10rs, 20rs rupee note contains two numbers and one alphabet. And the last six character starts from 000001 to 100000. Similarly for 50rs, 100rs, 500rs, 200rs rupee notes, it will have one number and two alphabets. 


        Twenty alpahabets are used in serial number procedure except I,O,J,X,Y,Z. Specific reason is not available.


            In India, all notes have RBI governor's authority signature except 1 rupee note. It had Finance Secretary signature. RBI governor will be appointed with recommendation of Union Finance Minister at Prime Minister's Office (PMO). Three years will be the span of time for RBI governor. In rare cases, two years will be extended. 


               For visible persons, it will be easy to find a value of rupees. But its not easy for blind people. For this specific reason, there is a special feature in our indian currency.
 

               There will be a square symbol in old 50 rupees note. Likewise, 100 rupee notes have triangle symbol and 200 rupee notes have four lines and two circles. 500 rupee notes have 5 lines and 2000 rupee notes have 7 lines at the edge. But there will not be any special feature available in new 50 rupee notes. 


Thank you !!!


"Dont stop when you are tired,
stop when you are done"


- ShanKeth & KisHor



           

            

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