The five member panel has chosen IIT post-graduate D Udaya Kumar’s design for the Indian rupee from among five short listed symbols and recommended it for Cabinet approval.
Kumar’s symbol is an amalgam of the Devanagari ‘Ra’ and the Roman capital ‘R’ without the stem The Ministry had organized a symbol design competition with prize money of Rs 2.5 lakh with the condition that it should be applicable to the standard keyboard, be in the national language script or a visual representation and should represent the historical and cultural ethos of the country.
The basic aim of the new symbol is to provide the Indian rupee international recognition In the global space, the unique sign will also help isolate the currency from the current abbreviation ‘Rs’ which is used by neighboring Pakistan, Nepal and Sri Lanka.
Kumar’s concept is based on the Tricolor and “arithmetic equivalence”. While the white space between the two horizontal lines gives the impression of the national flag with the Shook Chakra, the two bold parallel lines stand for ‘equals to’, representing balance in the economy, both within and with other economies of the world.
All new Indian notes will now bear the symbol.
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