New-look rupee gets NID touch

Saturday, February 27, 2010

With the global standing of the rupee likely to get stronger, the first thing to be done is to change the face of the Indian rupee to match world-class aspiration.
NID may have a role in what the new rupee would look like. The Union finance ministry has reached very close to selecting a symbol for the Indian currency just like the US dollar, Euro, Pound Sterling, Japanese Yen, and others.
The eight-member jury appointed by the ministry, which also has an NID faculty member, has short listed five of the 3,331 eligible entries that were received.
Anil Sinha from NID, who is in the jury, has also designed coins of several denominations that are in use right now, including the Rs 5 and Rs 10 coins, but he refused to say whether NID’s design was also among the shortlisted ones.
"It was an open competition organised by the Union finance ministry, which was launched early last year. There have been three meetings of jury members since and has shortlisted five symbols and submitted to the ministry," said a source from the institute.
Sinha said the ministry will soon announce the results. It being an open competition, the winner of the competition will be awarded Rs 2.5 lakhs and the remaining four short listed symbols will be given a cash prise of Rs 25,000.

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