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Token money, or token, is a form of money that has a lesser intrinsic value compared to its face value. [1] [2] ... In Medieval Indian history, Mohammad Bin Tughlaq ...
A variety of earliest Indian coins, however, unlike those circulated in West Asia, were stamped bars of metal, suggesting that the innovation of stamped currency was added to a pre-existing form of token currency which had already been present in the Janapadas and Mahajanapada kingdoms of the Early historic India.
It is estimated that India could save approximately ₹ 40,000,000,000 (equivalent to ₹ 42 billion or US$510 million in 2023) by reducing the need for physical currency production. [78] The Digital Rupee also aims to lower transaction costs, making both domestic and international money transfers more efficient and accessible.
A Guide to the Temple Tokens of India. Shamrock Press. Michael Mitchiner (2001). Ramatankas: Hindu Religious Tokens Illustrating Themes from the Ramayana. IIRNS. ISBN 978-81-86786-11-6. Roma Niyogi (1989). Money of the People: A Survey of Some Eighteenth and Nineteenth Century Tokens of India. Indian Museum.
In numismatics, token coins or trade tokens are coin-like objects used instead of coins. The field of token coins is part of exonumia and token coins are token money . Their denomination is shown or implied by size, color or shape.
1973 Indian proof set of coins. Coins of the Indian rupee (₹) were first minted in 1950. [1] New coins have been produced annually since then and they make up a valuable aspect of the Indian currency system. Today, circulating coins exist in denominations of 1, 2, 5, 10, and 20 rupees.
The Unified Payments Interface (UPI) is a real-time payment system for instant money transfers between any two bank accounts held in participating banks in India. The interface has been developed by the National Payments Corporation of India and is regulated by the Reserve Bank of India.
The India Government Mint (ISO: Bhārata Sarakāra Ṭakasāla) operated four mints in the country for the production of coins: Mumbai, Maharashtra; Kolkata, West Bengal; Hyderabad, Telangana; Noida, Uttar Pradesh [1] The functions of the mint were replaced by the Security Printing and Minting Corporation of India in 2006.