INR Full Form

What is the full form of INR?

The full form of INR is Indian Rupee. INR is the Republic of India’s official currency. It is approved and controlled by RBI (Reserve Bank of India). The Rupee is equal to 100 paise, that is

1 Rupee = 100 paise

Based on the Reserve Bank of India Act of 1934, the RBI manages currency in India and performs its role in currency management. Since 2010, INR has been referred to as “₹” instead of Rs. Udaya Kumar configured it. The lowest value used in the nation is one rupee coin, but one Rupee was demonised in 2019.

The RBI issues rupee coins in different metals for denominations like 50 paise 1 rupee, 2 rupees 5 rupees and 10 rupee coins. Most of those coins incorporate king Ashoka. The RBI issued banknotes in amounts including one, two, five, ten, twenty, fifty, hundred, two hundred, five hundred, and two thousand. Each of these denominations appears on the opposite end of Mahatma Gandhi’s portrait except in the one rupee note. The one rupee note bears a picture of a rupee coin.

Various types of INR

The various types of INR in coins and rupees are listed below.

Coins

1. One Rupee
2. Two Rupee
3. Five Rupee
4. Ten Rupee

Notes

1. One Rupee
2. Two Rupee
3. Five Rupee
4. Ten Rupee
5. Twenty Rupee
6. Fifty Rupee
7. One Hundred Rupee Note
8. Two Hundred Rupee Note
9. Five Hundred Rupee Note
10. Two Thousand Rupee Note

Security issues in INR

Implementation of security features in Indian rupees is very critical in maintaining legitimate transactions in the Indian economy as there is always a chance of duplication of Indian Rupee notes. The duplicate notes could be the massive cause of the economy’s weakening and decline.

In order to avoid duplication, the following points are included:

• Using Identification Tags
• Usage of watermark
• Usage of fluorescence and optically variable ink.