Where are coins minted in India: You must have seen different coins in your daily life. The design and texture of these coins are different, but do you know where coins are minted in India? By looking at the design of the coins you will find where the coin was made? Actually, coins are minted in India in four mints owned by SPMCIL. Which includes Mumbai, Hyderabad, Kolkata, Noida. Minting of Indian coins is done at these 4 places.
The coins made in every mint have their own identity.
But do you know that the coins made in every mint have their own identity? By looking at the special mark made on these coins, you can find out in which city of India that coin was made. For example, there is a star on the coin made in Hyderabad. Whereas the coins made in Noida have a ‘solid dot’. At the same time, the coins made in Mumbai have the shape of ‘diamond’. Apart from this, there is no special symbol on the coins made in Kolkata. Also, according to Section 38 of the Reserve Bank of India Act, coins are issued only through the Reserve Bank of India.
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In India, coins are minted under the Coinage Act 1906.
Let us tell you that in India, coins are minted under the Coinage Act 1906. Under this Act, the responsibility of production and supply of coins has been given to RBI by the Government of India. RBI sets a yearly target for this purpose and the Government of India makes a production programme.
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The Government of India brings into use different metals from time to time depending on the value of the metals. Currently, ferritic stainless steel (17% chromium and 83% iron) is being used for the manufacture of most coins.
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