Indian Currency (ANNA , PICE & PIES)1947-1950

[Varun Gupta]

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Republic India Coinage   India won its independence on 15th August, 1947. During the period of transition India retained the monetary system and the currency and coinage of the earlier period. While Pakistan introduced a new series of coins in 1948 and notes in 1949, India brought out its distinctive coins on 15th August, 1950. Chronologically, the main considerations influencing the coinage policy of Republic India over time have been: The incorporation of symbols of sovereignty and indigenous motifs on independence; Coinage Reforms with the introduction of the metric system; The need felt from time to time to obviate the possibility of the metallic value of coins rising beyond the face value; The cost-benefit of coinisation of currency notes Independent India Issues could broadly be categorised as The Frozen Series 1947-1950 This represented the currency arrangements during the transition period upto the establishment of the Indian Republic. The Monetary System remained unchanged at One Rupee consisting of 192 pies. 1 Rupee = 16 Annas 1 Anna = 4 Pice 1 Pice = 3 Pies