Interesting Facts about the Currency Symbol of India

The Indian rupee is the official currency of the Republic of India. The first rupee in India was introduced by Sher Shah Suri and the Bank of Hindustan issued the first paper note.  The Reserve Bank of India issues and regulates currency-related provisions. The symbol of Indian Rupee characterizes India’s worldwide identity for currency transactions and economic clout.

India Yearbook is an essential book for UPSC IAS Exam. The India yearbook, the comprehensive summary of the country profile and progress is published by the Publication division, Government of India. The book deals with massive facts, statistics etc. Several questions have been asked from the India yearbook in previous year Civil Services Examination. National Identity elements of India dealt in the second chapter of India yearbook.

This article will further elaborate upon the facts associated with the currency symbol of India within the context of the IAS Exam.

Candidates can enhance their UPSC exam preparation by attempting UPSC Previous Years Question Papers now!!To complement your preparation for the upcoming exam, check the following links:

Currency Symbol of India – Facts

Here we are giving interesting facts about currency symbol of India which will help you in the UPSC IAS Prelims exam preparation.

  1. The symbol of Indian Rupee was accepted by the Government of India on 15th July 2010.
  2. The Indian Rupee sign is a symbol of Indian ideology. The symbol is a combination of Devanagari “Ra” and the Roman Capital “R” with two parallel horizontal stripes running at the top.
  3. The horizontal lines form a background effect of tricolor which slightly symbolizes the Indian national flag flying at the top.
  4. The two horizontal lines also represent the arithmetic sign ‘equal to’ which signifies a balanced economy.
  5. The symbol of Indian Rupee is designed by Udaya Kumar. The design of Indian rupee was chosen through an open competition conducted by the Ministry of Finance.
  6. The symbol imparts a unique identity to the Indian currency that helps to distinguish it from similar currencies of other nations such as Sri Lanka, Pakistan, and Indonesia.

Frequently Asked Questions on Currency Symbol of India

Q1

Q 1. Who designed the currency symbol for India?

Ans. Udaya Kumar, a post-graduate in Design from the Indian Institute of Technology Bombay, designed and conceptualised the Indian Rupee symbol ₹. It was adopted by the government of the country on July 15, 2010.
Q2

Q 2. From where has the Indian currency sign been adapted?

Ans. The rupee symbol is an amalgam of Devanagari “Ra” and the Roman Capital “R” with two parallel horizontal stripes running at the top representing the national flag and also the “equal to” sign.

Aspirants can know more on relevant topics to prepare for the UPSC exam from the links provided below-

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Fiscal Responsibility Budget Management – FRMB Act The Changing Dimensions of India’s Monetary Policy
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