The Indian paisa (plural: paise) is a 1100 (one-hundredth) subdivision of the Indian rupee. The paisa was first introduced on 1 April 1957 after decimalisation of the Indian rupee.[1]

In 1955, the Government of India first amended the Indian Coinage Act and adopted the "metric system for coinage". From 1957 to 1964, the paisa was called naya paisa (transl. 'new paisa') to distinguish it from the old paisa/pice which was a 164 subdivision of the Indian Rupee. On 1 June 1964, the term "naya" was dropped and the denomination was named paisa. Paisa has been issued in 1, 2, 3, 5, 10, 20, 25, and 50 paise coins. Though as of 2023, coins of the denomination of 1 rupee are the lowest value in use.

History

Main article: Coins of the Indian rupee

Prior to 1957, Indian rupee was not decimalised and the rupee from 1835 to 1957 was further divided into 16 annas. Each anna was further divided to four Indian pices and each pice into three Indian pies till 1947 when the pie was demonetised.[2][3]

Denomination Corresponding value From To Comments
One Indian rupee Sixteen Indian anna 1835 1947
1947 1950 The Frozen Series
1950 1957 The Anna Series
Hundred paise 1957 1964 Naya paisa series
1964 Present Except 50 paise, rest all paise, anna, pice and pies coins demonetised.
One Indian anna Four Indian pice 1835 1947
1947 1950 The Frozen Series.
1950 1957 The Anna Series. Anna and pice demonetised in 1957.
One Indian pice Three Indian pies 1835 1947 Pies demonetised in 1947.
One Indian rupee = 100 paise = 16 anna = 64 pice = 192 pies.[2]

Coins

Naya paisa series (1957–1964)

Naya paisa series
Value Technical parameters Description Year of minting Monetary
status
Weight Diameter Thickness Metal Edge Obverse Reverse First Last
1 naya
paisa
1.5 g 16 mm 1 mm Bronze Plain State Emblem of India and country name
in Hindi and English.
Face-value and year. 1957 1962 Demonetised.[4]
2 naya
Paise
2.95 g 18 mm 1.80 mm Cupronickel Smooth 1957 1963 Demonetised.[5]
5 naya
paise
10 naya
paise
20 naya
paise
50 naya
paise

Paisa series (1964–2002)

Paisa – Aluminum series
Value Technical parameters Description Year of minting Monetary
status
Mass Diameter Thickness Metal Edge Obverse Reverse First Last
1 paisa 0.75 g 17 mm 1.72 mm Aluminium Smooth State Emblem of India and
country name in Hindi and English.
Face-value and year. 1965 1981 Demonetised.[6]
2 paise 1.0 g 20 mm 1.58 mm Demonetised.[7]
3 paise 1.2 g 21 mm 2.0 mm 1964 1971 Demonetised.[8]
5 paise 1.5 g 22.0 mm 2.17 mm State Emblem of India country
name and face-value.
Year and "Save for development" lettering.
Coin minted to commemorate FAO.
1977 1977 Demonetised.[9]
10 paise 2.27 g 25.91 mm 1.92 mm State Emblem of India and
country name in Hindi and English.
Face-value and year. 1971 1982 Demonetised.[10]
20 paise 2.2 g 26 mm 1.7 mm 1982 1997 Demonetised.[11]
25 paise 2.83 g 19.05 mm 1.55 mm 1957 2002 Demonetised.[12]
50 paise 2.9 g 19 mm 1.5 mm 1957 2002 In circulation but rare.[13]

Mint mark

Symbol for Paisa

Main article: Indian rupee sign § Symbol for Paisa

Proposed symbol for Paisa

A symbol for the paisa⟩ was designed using the same concept as the symbol for rupee.[14] However, the proposed symbol never appeared on any coin, as the RBI had stopped minting any paisa coins before this proposal.

See also

References

  1. ^ "Reserve Bank of India". www.rbi.org.in. Retrieved 2023-12-07.
  2. ^ a b "Republic India Coinage". Reserve Bank of India. Retrieved 27 November 2016.
  3. ^ "Global Financial Data". Global Financial Data. Retrieved 27 November 2016.[permanent dead link]
  4. ^ "1 Naya Paisa". Numista. Retrieved 28 November 2016.
  5. ^ "2 Naya Paise". Numista. Retrieved 28 November 2016.
  6. ^ "1 Indian paisa". Numista. Retrieved 29 November 2016.
  7. ^ "2 Indian paise". Numista. Retrieved 29 November 2016.
  8. ^ "3 Indian paise". Numista. Retrieved 29 November 2016.
  9. ^ "5 Indian paise". Numista. Retrieved 29 November 2016.
  10. ^ "10 Indian paise". Numista. Retrieved 29 November 2016.
  11. ^ "20 Indian paise". Numista. Retrieved 29 November 2016.
  12. ^ "25 Indian paise". Numista. Retrieved 11 May 2023.
  13. ^ "50 Indian paise". Numista. Retrieved 11 May 2023.
  14. ^ Kumar, D. Udaya. "Currency Symbol for Indian Rupee" (PDF). Indian Institute of Technology Bombay. Archived from the original (PDF) on 2010-08-21. Retrieved 14 November 2018.