Centre set to introduce Rs 100 coins soon

CA Dungar Chand U Jain | September 13, 2017 | General | No Comments

The Centre is all set to roll out Rs 100 coins for the first time in the country.
The Ministry of Finance on Monday issued a notification regarding the introduction of Rs 100 coins to commemorate the birth centenary of AIADMK founder Dr MG Ramachandaran and renowned Carnatic singer Dr MS Subbulakshmi.
The Reserve Bank of India will also issue new Rs 5 and Rs 10 coins to honour the former Tamil Nadu chief minister and the Bharat Ratna-winning singer.
“The ministry in exercise of the powers conferred by clauses (d) and (e) of sub-section (2) of section 24 of the Coinage Act, 2011 (11 of 2011), the Central Government, has decided to coined Rs 100 – which are presently distributed in notes form, and introduce Rs 10 and Rs 5 coins with new features at the Mint for issue under the authority of the Central Government to commemorate the occasion of Birth Centenary of Dr M S Subbulakshmi and Dr MG Ramachandran Birth Centenary,” the official notification from the ministry stated.
The obverse side of the coin shall bear the Lion Capitol of Ashoka Pillar in the centre with the legend Satyamev Jayate inscribed below, flanked on the left periphery with the word Bharat in Devnagari script and on the right periphery with the word India in English.
It shall also bear the Rupee symbol (₹) and denominational value “100” in international numerals below the Lion Capitol.
The reverse side of the coin shall bear the portrait of Dr MS Subbulakshmi in the centre. The inscription Dr MS Subbulakshmi shall be written in Devnagari script on the upper periphery and “Birth centenary of Dr MS Subbulakshmi” in English on the lower periphery of the coin. The year “1916-2016” in international numerals will be placed on the coin’s right periphery.
In the second design, the face of the coin will bear the portrait of Dr MG Ramachandran in the centre, with his name inscribed in Devnagari script on the upper periphery and “Dr M G Ramachandran birth centenary” in English on the lower periphery of the coin.
The year “1917-2017” in international numerals will flank the bottom of Dr MG Ramachandran’s portrait on the coin.
The Rs 100 coin will be 44 millimeter in diameter with a metal composition of silver (50 per cent), copper (40 per cent), nickel (5 per cent) and zinc (5 per cent).