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What is the full form of INR?

Full form of INR: Here, we are going to learn about the INR, full form of INR, overview, Security Issue in Indian Rupee, etc.
Submitted by Anushree Goswami, on February 29, 2020

INR: Indian Rupee

INR is an abbreviation of Indian Rupee. It is an official currency of the Republic of India. It is issued and managed by the Reserve Bank of India. Rupee can be divided into paisa. In 1957, the Rupee is divided into 100 paise, which in other words, 1 Rupee = 100 paise. Based on the Reserve Bank of India Act, 1934, the Reserve Bank controls currency in India and obtains its responsibility in currency management. However, as of 2019, a coin of denomination of 1 rupee is the most minimum value in use.

• The Indian rupee is obtainable in the denomination of coins and denomination of notes.
• The denominations of the coin have 1, 2, 5, 10 rupee coins and Notes denomination consists of 1, 2, 5, 10, 20, 50, 100, 500, 2000 rupee notes.
• A few times ago, there was also the denomination of 1 paisa, 2 paise, 5 paise, etc. but these small denominations have been taken away now.
• In the middle ages from 1486 to 1545, it is supposed that the rupee was first introduced by the Sher Shah Suri at a value of 40 copper pieces per Rupee.
• In 1770, paper rupees were issued.
• In the duration of and after the British rule, a rupee was divided into or equal to16 annas.
• In 2010, the symbol of Indian rupee "₹" is officially taken up by the Government of India.
• The symbol was depicted by D. Udaya Kumar and it was derived from the amalgamation of the Devanagari consonant "र" and the Latin capital letter "R" devoid of its vertical bar.
• As of 26 April 2019, present circulating banknotes are in denominations of ₹5, ₹10, ₹20, ₹50 and ₹100 from the Mahatma Gandhi Series and in denominations of ₹10, ₹20, ₹50, ₹100, ₹200, ₹500 and ₹2,000 from the Mahatma Gandhi New Series.

Image source: https://en.wikipedia.org/wiki/File:Indian_Rupee_symbol.svg

Security Issue in Indian Rupee

The execution of security features is very significant in Indian rupees to maintain genuine transactions in the economy of India because there is always a possibility of duplication of Indian Rupee notes. The duplicate notes may be the immense cause of declining and weakening of the economy.

Following features which are given below are comprised to keep away from duplication:

• Insert security thread
• Use Identification marks
• Watermarking
• Use of optically variable ink
• Fluorescence