The currency of India is the Indian Rupee (INR) , with the symbol ₹. It is divided into 100 paise.
Currently circulating coins
Currently, coins in India are issued in the following denominations:
- 50 paise
- ₹1
- ₹2
- ₹5
- ₹10
- ₹20
It’s worth noting that coins up to 50 paise are considered “small coins,” while coins of ₹1 and above are classified as “Rupee Coins”.
Historical context
India has a long and rich history of coinage, dating back to ancient times. The first documented coinage in India was the ‘Punch Marked’ coins issued between the 7th-6th century BC and 1st century AD. These coins were primarily silver and bore punched symbols representing nature, animals, and geometric shapes. Various dynasties subsequently introduced their own coins, reflecting their culture and beliefs, including gold, silver, and copper coins.
After gaining independence in 1947, India initially retained the existing monetary system. However, in 1957, India adopted a decimalized system, dividing the rupee into 100 paise instead of the earlier system of annas and pice. The term “Naya Paisa” (New Paisa) was used for public recognition until 1964, when “Naya” was dropped.
Over time, the denominations and metal compositions of Indian coins have changed due to factors like rising commodity prices and the need to manage currency note issues. For example, higher denomination coins (like the ₹2, ₹5, and ₹10) were introduced to reduce the cost of printing banknotes. The 25 paise coin and all lower denominations were officially demonetized in 2011.
Manufacturing and distribution
Coins in India are minted in four government mints located in Kolkata, Mumbai, Hyderabad, and Noida. The Reserve Bank of India (RBI) is responsible for circulating these coins, as stipulated by Section 38 of the RBI Act. The RBI’s role is to ensure an adequate supply of currency notes and coins in good quality to the public. The Government of India, however, is responsible for designing and minting the coins, according to the Coinage Act, 2011.
What are coins called in India?
Thanks for asking. The Indian currency is called the Indian Rupee (INR). One Rupee consists of 100 Paise. The symbol of the Indian Rupee is ₹.
Is there a 1000 RS coin in India?
PM Modi releases coin commemorating millenary of Rajendra Chola’s naval expedition. Prime Minister Narendra Modi in Gangaikonda Cholapuram, on Sunday (July 27, 2025), released a thousand-rupee coin to mark the “1,000 th anniversary of the naval expedition of King Rajendra Chola-I”.
What are the current coins in India?
Today, circulating coins exist in denominations of 1, 2, 5, 10, and 20 rupees. All of these are produced by four mints located across India, in Kolkata, Mumbai, Hyderabad, Noida.