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Repair Windows errors before they cause bigger problemsFix Now →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Clear out junk files and repair common Windows errorsFree Scan →India’s currency is the Indian rupee (INR), written with the symbol ₹. One rupee equals 100 paise. Notes and coins are physical forms of money; the digital rupee, or e₹, is RBI-issued digital currency. UPI, by contrast, is a payment method. Knowing the difference between what is issued, what remains in circulation and what is still legal tender helps answer practical questions about older notes and coins.
What is the currency of India called?
The currency of India is the Indian Rupee, abbreviated INR. One rupee is divided into 100 paise. The rupee symbol is ₹.
The symbol combines forms resembling the Devanagari letter “ra” and the Latin capital “R,” with a double horizontal line above. The Reserve Bank of India (RBI) museum says the Government and RBI formalized the symbol in 2010 and incorporated it into notes and coins in 2011. It gives the currency a distinct visual identity; it does not change the rupee’s value or legal status. RBI museum history
Who issues Indian currency?
Responsibility differs for banknotes and coins. According to the RBI’s currency FAQ, updated April 15, 2025, the Reserve Bank is the sole issuer of banknotes, while the Government of India designs and mints coins and the RBI distributes them. The Government also issues ₹1 notes from time to time. Banknote designs, form and material are approved by the Central Government after considering recommendations from the RBI Central Board. RBI currency FAQ
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- 1 Paisa: Smallest denomination with traditional square design and “1971” date on reverse.
- 2 Paisa: Scalloped aluminum coin with Lion Capital and bold “2” reverse.
- 5 Paisa: Lightweight square coin dated “1992” with Ashoka Lion and modern numeral.
- 10 Paise: Circular aluminum coin with “1988” date and denomination in Hindi and English.
- 20 Paise: Decorative hexagon coin with intricate border and raised “20 Paise 1988” in center.
The RBI’s FAQ describes four banknote presses: two Government-owned through SPMCIL and two RBI-owned through BRBNMPL. It lists coin mints in Mumbai, Hyderabad, Kolkata and Noida. The RBI estimates demand for each denomination and arranges note supply.
Which Indian rupee notes are still legal tender?
Legal tender, current issuance and circulation are separate questions. The RBI currency FAQ, updated April 15, 2025, reports the following status:
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- British silver rupees were issued by the British government in India from the early 19th century to the early 20th century. They were the official currency of British India during this period.
- British silver rupees are made from .5% silver. The remaining .5% is made up of other metals, such as copper and zinc.
| Denomination | Current issuance, circulation and legal-tender status |
|---|---|
| ₹1 | Issued by the Government of India from time to time; legal tender. |
| ₹2 and ₹5 | Printing has stopped and the denominations have been coinised. Older notes may still be in circulation and remain legal tender. |
| ₹10, ₹20, ₹50, ₹100, ₹200 and ₹500 | Listed by the RBI as denominations currently being issued. |
| ₹2000 | Printing has stopped and the notes have been withdrawn from circulation, but they remain legal tender, according to the RBI FAQ. |
| Old Mahatma Gandhi series ₹500 and ₹1,000 notes issued up to November 8, 2016 | Ceased to be legal tender from midnight on November 8, 2016. |
So, “withdrawn from circulation” does not by itself mean “invalid”: the RBI says ₹2000 notes remain legal tender. That differs from the old ₹500 and ₹1,000 notes specified above, which ceased to be legal tender. The FAQ also says banknotes are made from 100% cotton paper. RBI currency FAQ, updated April 15, 2025
Which coins are legal tender, and must a shop accept them?
The RBI lists 50-paise coins and ₹1, ₹2, ₹5, ₹10 and ₹20 coins as currently issued denominations. Coins of 25 paise and lower ceased to be legal tender on June 30, 2011. RBI currency FAQ RBI master direction on exchange of notes and coins
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Legal-tender status does not mean a person can be required to accept coin payment of any size. The RBI says coins of ₹1 and above are legal tender for a sum not exceeding ₹1,000 in a single transaction; 50-paise coins are legal tender up to ₹10. A person cannot be forced to accept payment in coins beyond these limits, though voluntary acceptance is not prohibited. Check the RBI rules for the current limits before relying on them in a transaction.
Can you exchange a damaged rupee note at a bank?
Yes. Under the RBI’s Note Refund Rules, mutilated or imperfect notes can be presented at bank branches for examination and exchange. The amount payable depends on the denomination and condition of the note, so a full refund is not guaranteed. RBI master direction on exchange of notes and coins
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- British silver rupees were issued by the British government in India from the early 19th century to the early 20th century. They were the official currency of British India during this period.
- British silver rupees are made from .5% silver. The remaining .5% is made up of other metals, such as copper and zinc.
Extremely brittle, charred or inseparably stuck notes that cannot withstand normal handling should be taken to a specified RBI Issue Office or handled under the special procedure described in the RBI direction. Do not try to separate stuck pieces yourself if doing so could damage them further.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What is the digital rupee, and is it the same as UPI?
No. The digital rupee (e₹) is the digital form of India’s rupee and a central bank digital currency issued by the RBI. UPI is a payment method, not a currency. The RBI’s Digital Rupee FAQ, updated October 1, 2026, describes retail and wholesale pilots; retail usage began in December 2022. Participating banks and non-banks provide wallets through which users hold and transfer e₹. Availability depends on participation in the pilot. RBI Digital Rupee FAQ
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- Authentic India 10 Rupee banknote from 2014, featuring the iconic portrait of Mahatma Gandhi.
- Uncirculated (UNC) Condition: This banknote is in pristine, mint condition, ensuring its quality and value for collectors.
- Historical Numismatic Item: A significant piece for collectors of world paper money, representing India's rich cultural and economic heritage.
- appropriate for Collectors: suitable for numismatists interested in Indian currency or historical figures like Mahatma Gandhi.
- Secure Packaging: Each banknote is carefully protected to ensure safe delivery in its uncirculated state.
| Question | Physical rupees | Digital rupee (e₹) | UPI |
|---|---|---|---|
| What is it? | Notes and coins; ₹1 notes are issued by the Government, and coins are Government-minted and RBI-distributed. | Digital currency issued by the RBI and held in a participating provider’s wallet. | A means of making payments, not a currency. |
| How does a transfer work? | Money changes hands physically. | Transfers between e₹ wallets settle as digital-currency transactions. | Payments follow UPI settlement timelines; scanning a UPI QR with an e₹ app uses UPI settlement. |
| Legal tender? | RBI-listed valid notes and coins have the legal-tender status described above. | Yes, according to the RBI FAQ updated October 1, 2026. | Not applicable: UPI is a payment method, not money. |
The same RBI FAQ says e₹ wallet balances currently earn no interest and have no fees. These are conditions reported by the FAQ as updated October 1, 2026; participating providers’ terms and pilot availability may change.
How did the Indian rupee develop?
Paper currency in India dates to the later part of the eighteenth century, when royal treasuries and banks—including the Bank of Hindostan and Bengal institutions—issued promissory notes. The Paper Currency Act of 1861 gave the Government of India sole authority to issue notes, according to an RBI historical publication. RBI historical publication
At independence, currency management continued through the transition, and the Government introduced a new design for the one-rupee note in 1949. After India became a republic in 1950, national symbols were selected for currency; the RBI museum’s account says the Lion Capital at Sarnath was chosen instead of a proposed Gandhi portrait for the new design. The later adoption of ₹ in 2010–11 updated the currency’s visual identity while the rupee remained the unit of money. RBI museum history
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