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Under The Coinage Act, 1906, the Government of India is charged with the production and supply of coins to the Reserve Bank of India (RBI). The RBI places an annual indent for this purpose and the Government of India draws up the production programme for the India Government Mints on the basis of the indent.
The India Government Mint, Mumbai is one of the four mints in India and is in the city of Mumbai. The mint was established in 1824 by the then governor of the Bombay Presidency. [1] Its main activity is the production of commemorative and development-oriented coins. The mint is opposite the Reserve Bank of India in the Fort area of South Mumbai.
In 1984, the Government of India decided to establish a new mint in the India city of Noida, Uttar Pradesh. With an estimated annual production capacity of 2,000 million coins, the new mint was established to cater to the increasing demand for coins in India.
1973 Indian proof set of coins. Coins of the Indian rupee (₹) were first minted in 1950. [1] 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 1, 2, 5, 10, and 20 rupees.
The India Government Mint, Kolkata was first established in 1757, [2] and was located in a building next to the Black Hole in the old fort – where the GPO (General Post Office) stands today. [3] It was called the Calcutta Mint and used to produce coins with the mint name Murshidabad .
The Security Printing & Minting Corporation of India Ltd. (SPMCIL) is an organization under the Coin and Currency Division of Department of Economic Affairs, Ministry of Finance. It is responsible for conducting printing and minting activities for the Government of India. It is under the ownership of the Ministry of Finance, Government of India.
India Government Mint, Hyderabad was established in 1803 AD by Mir Akbar Ali Khan Sikander Jah, Asaf Jah III as a private mint and along with other private mints in the country. The mint produced Indian coins in the name of Emperor of India. Initially the mint was situated at Sultan Sahi in Moghalpura suburb of the Hyderabad city.
The Government of India is set to introduce a new ₹ 20 coin with a dodecagonal shape, and like the ₹ 10 coin, also bi-metallic, along with new designs for the new versions of the ₹ 1, ₹ 2, ₹ 5 and ₹ 10 coins, which was announced on 6 March 2019.