The Indian paisa (plural: paise) is a 1⁄100 (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 1⁄64 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.
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] | ||||
| 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 –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] | ||||
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 Reserve Bank of India had stopped minting any paisa coins before this proposal.
Decimalisation or decimalization is the conversion of a system of currency or of weights and measures to units related by powers of 10.
Rupee is the common name for the currencies of India, Mauritius, Nepal, Pakistan, Seychelles, and Sri Lanka, and of former currencies of Afghanistan, Bahrain, Kuwait, Oman, the United Arab Emirates, British East Africa, Burma, German East Africa, and Tibet. In Indonesia and the Maldives, the unit of currency is known as rupiah and rufiyaa respectively, cognates of the word rupee.
The Indian rupee is the official currency in India. The rupee is subdivided into 100 paise. The issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank manages currency in India and derives its role in currency management based on the Reserve Bank of India Act, 1934.
The ngultrum is the currency of the Kingdom of Bhutan. It can be literally translated as 'silver' for ngul and 'coin' for trum. It is subdivided into 100 chhertum. The Royal Monetary Authority of Bhutan, the central bank of Bhutan is the minting authority of the ngultrum banknotes and coins. The ngultrum is currently pegged to the Indian rupee at parity.
The Pakistani rupee is the official currency in the Islamic Republic of Pakistan. The issuance of the currency is controlled by the State Bank of Pakistan. It was officially adopted by the Government of Pakistan in 1949. Earlier the coins and notes were issued and controlled by the Reserve Bank of India until 1949, when it was handed over to the Government and State Bank of Pakistan, by the Government and Reserve Bank of India.
Coins of the Indian rupee (₹) were first minted in 1950. New coins have been produced annually since then and they make up a valuable aspect of the Indian currency system. Today, circulating coins exist in denominations of One Rupee, Two Rupees, Five Rupees, Ten Rupees and Twenty Rupees. All of these are produced by four mints located across India, in Kolkata, Mumbai, Hyderabad, Noida.
An anna was a currency unit formerly used in British India, equal to 1⁄16 of a rupee. It was subdivided into four pices or twelve pies. When the rupee was decimalised and subdivided into 100 (new) paise, one anna was therefore equivalent to 6.25 paise. The anna was demonetised as a currency unit when India decimalised its currency in 1957, followed by Pakistan in 1961. It was replaced by the 5-paise coin, which was itself discontinued in 1994 and demonetised in 2011. The term anna is frequently used to express a fraction of 1⁄16.
The history of the rupee traces back to ancient times in the Indian subcontinent. The mention of rūpya by Pāṇini is seemingly the earliest reference in a text about coins. The term in Indian subcontinent was used for referring to a coin.
Coinage under British governance of the Indian subcontinent can be divided into two periods: East India Company (EIC) issues, pre-1835; and Imperial issues struck under direct authority of the crown. The EIC issues can be further subdivided into two subcategories: the Presidency issues, which comprise separate Madras Presidency, Bombay Presidency, and Bengal Presidency issues; and uniform coinage for all British territories from 1835 to 1858. Imperial issues bear obverse portraits of Queen Victoria, Edward VII, George V, and George VI. No British India coins were issued during the brief reign of Edward VIII.
The Indian 10-rupee coin is a denomination of the Indian rupee. The ₹10 coin is the second highest-denomination coin minted in India since its introduction in 2005. The present ₹10 coin in circulation is from the 2019 design. However, the previous ₹10 coins minted before 2019 are also legal tender in India. All ₹10 coins containing with and without the rupee currency sign are legal tender, as stated by the Reserve Bank of India. Along with the standard designs, there are 4 different designs for this denomination and this is used alongside the 10 rupee banknote.
The Indian One Paisa coin is a former denomination of the Indian Rupee. The 1 coin equals 1⁄100 (one-hundredth) of the Indian Rupee. The symbol for paisa is. In 1955, India adopted metric system for coinage and amended the "Indian Coinage Act". Subsequently, one paisa coins were introduced on 1 April 1957. From 1957 to 1964, one paisa coin was called "Naya Paisa" and on 1 June 1964, the term "Naya" was dropped and the denomination was simply called "One paisa". One paisa coin has been demonetized and is no longer legal tender.
The Indian One Naya paisa was a unit of currency equaling 1⁄100 (one-hundredth) of the Indian rupee. The symbol for paisa is p. In 1955, India adopted metric system for coinage and amended the "Indian Coinage Act". Subsequently, one paisa coins were introduced on 1 April 1957. From 1957 to 1964, one paisa coin was called "Naya Paisa" and on 1 June 1964, the term "Naya" was dropped and the denomination was simply called "One paisa". Naya paisa coin has been demonetized and is no longer a Legal tender.
The 25 coin, popularly called Chawanni is a former denomination of the Indian rupee. The 25 paisa coin was worth 1⁄4 of a rupee.
The Indian 50 paisa coin, popularly called Athanni, is a denomination of the Indian rupee, equal to half a rupee, that is very rarely found in everyday circulation. Currently it is the lowest circulating denomination of the Indian rupee. The symbol for paisa is. On 30 June 2011, when the 25 paisa and all other lower denomination coins were officially demonetised, the 50 paise coin became the lowest circulating denomination of the Indian rupee.
The Indian Two paise, is a former denomination of the Indian Rupee. The 2 coin equals 1⁄50 of the Indian Rupee. The symbol for Paisa is.
The Indian Two naye paise is a unit of currency equaling 2⁄100 of the Indian rupee. The symbol for paisa is p.
The Indian Three paise, is a former denomination of the Indian Rupee. The 3 coin equals 3⁄100 of the Indian Rupee. The symbol for paisa is.
The Indian five naye paise, was a unit of currency equaling 1⁄20 of the Indian rupee. The symbol for paisa is p.
The Indian 1-rupee coin (₹1) is an Indian coin worth one Indian rupee and is made up of a hundred paisas. Currently, one rupee coin is the smallest Indian coin in circulation. Since 1992, one Indian rupee coins are minted from stainless steel. Round in shape, the one rupee coins weighs 3.76 grams, has a diameter of 21.93-millimetre (0.863 in) and thickness of 1.45-millimetre (0.057 in). In independent India, one rupee coins was first minted in 1950 and is currently in circulation.
The Indian five paise, is former denomination of the Indian Rupee. The 5 coin equals 1⁄20 of the Indian Rupee. The symbol for paisa is.
