New Indian Rupee Symbol/New rupees sign
The Symbol of Indian Rupee approved by the Union Cabinet on 15th July, 2010. The Design for the symbol was submitted by Shri D Udaya Kumar.
The Indian rupee will soon have a unique Indian currency(rupee) symbol — a blend of the Devanagri 'Ra' and Roman 'R' — joining elite currencies like the US dollar, euro, British pound and Japanese yen in having a distinct identity.
Indian Rupee Symbol Final Shortlisted Designs
The new Indian currency(rupee) symbol, designed by Bombay IIT post-graduate D Udaya Kumar, was approved by the cabinet on 15th July, 2010 — reflecting that the Indian currency, backed by an over-trillion dollar economy, was finally making its presence felt on the international scene.
"It's a big statement on the Indian currency... The Indian currency(rupee) symbol would lend a distinctive character and identity to the currency and further highlight the strength and global face of the Indian economy," Information and Broadcasting Minister Ambika Soni told reporters after the cabinet meeting.
Though the Indian currency(rupee) symbol will not be printed or embossed on currency notes or coins, it would be included in the 'Unicode Standard' and major scripts of the world to ensure that it is easily displayed and printed in the electronic and print media.
Among currencies with distinctive identities, only the pound sterling has its new Indian currency(rupee) symbol printed on the notes.
Unicode is an international standard that allows text data to be interchanged globally without conflict. After incorporation in the global and Indian codes, the symbol would be used by all individuals and entities within and outside the country.
The symbol will be adopted in a span of six months in the country, and within 18 to 24 months globally, Soni said, adding that it will feature on computer keyboards and softwares for worldwide use.
Soni said that the new Indian currency(rupee) symbol, which reflects the Indian ethos and culture, would help distinguish the currency from the rupee or rupiah of other countries like Pakistan, Nepal, Sri Lanka and Indonesia.
Besides this, state governments would be asked to proactively promote the use of the new Indian currency(rupee) symbol, she added.
Kumar's entry was chosen from 3,000 designs competing for the new Indian currency(rupee) symbol. He will get an award of Rs 2.5 lakh.
"It is a perfect blend of Indian and Roman letters — capital 'R' and Devanagri 'Ra' which represents rupaiah, to appeal to international and Indian audiences... My design is based on the tricolour, with two lines at the top and white space in between," a visibly-happy Kumar said.
The jury, which had sent the five short-listed entries for the cabinet's approval, was headed by a Reserve Bank Deputy Governor.
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