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The Indian Currency Committee or Fowler Committee was a government committee appointed by the British-run Government of India on 29 April 1898 to examine the currency situation in India. [29] They collected a wide range of testimony, examined as many as forty-nine witnesses, and only reported their conclusions in July 1899, after more than a ...
In most parts of India, the rupee is known as rupaya, rupaye, or one of several other terms derived from the Sanskrit rūpya, meaning silver. Ṭaṅka is an ancient Sanskrit word for money. While the two-paise coin was called a taka in West Pakistan, the word taka was commonly used in East Pakistan (now Bangladesh), alternatively
The Indian rupee was a silver-based currency during much of the 19th century, which had severe consequences on the standard value of the currency, as stronger economies were on the gold standard. During British rule, and the first decade of independence, the rupee was subdivided into 16 annas .
Indian rupee symbol in graphic form. The new sign is a combination of the Devanagari letter र ("ra") and the Latin capital letter R without its vertical bar. The parallel lines at the top (with white space between them) makes an allusion to the tricolour Indian flag and also depict an equality sign that symbolizes the nation's desire to reduce economic disparity.
Paisa (also transliterated as pice, pesa, poysha, poisha and baisa) is a monetary unit in several countries.The word is also a generalised idiom for money and wealth. In India, Nepal, and Pakistan, the paisa currently equals 1 ⁄ 100 of a rupee.
In India slang names for coins are more common than the currency notes. For 5 paisa (100 paisa is equal to 1 Indian rupee) it is panji. A 10 paisa coin is called dassi and for 20 paisa it is bissi. A 25 paisa coin is called chavanni (equal to 4 annas) and 50 paisa is athanni (8 annas). However, in recent years, due to inflation, the use of ...
Cash was a currency unit of Madras Province during the period of British rule in India. Specifically, it was a subunit of the fanam, rupee, and pagoda. 80 cash = 1 fanam; 12 fanams = 1 rupee; 42 fanams = 1 pagoda; Copper coins of 20 cash were called pice, 10 cash were called dodees, and 5 cash were called half dodees. [3]
In this system of numeration, 100 lakh is called one crore [3] and is equal to 10 million. Formal written publications in English in India tend to use lakh/ crore for Indian currency and Western numbering for foreign currencies, such as dollars and pounds .