Coins, Notes, and a Nation's Story: India's Currency Evolution

10 Sep 2025, 08:53 PM

After the making of RBI, our Money Trivia series now turn to the story of coins and banknotes that have shaped daily life from 1971 to 2025.

Muskan Singh

After tracing the Reserve Bank of India's journey, our Money Trivia series now turn to the story of coins and banknotes that have shaped daily life from 1971 to 2025. Currency isn't just a medium of exchange -- it's a mirror of changing economies, politics, and technology.

The 1970s saw India shift coins from cupro-nickel to stainless steel, a cost-driven move as silver became too expensive. By the 1980s, Rs 20 and Rs 50 notes entered circulation, followed in the 1990s by higher-value coins like Rs 2 and Rs 5, and the iconic Mahatma Gandhi banknote series, which replaced the Ashoka Lion.

The 2000s brought bimetallic coins and the re-entry of Rs 1,000 notes to meet inflationary pressures. Then came 2016 -- one of the most disruptive moments in Indian financial history -- when Rs 500 and Rs 1,000 notes were demonetized overnight, replaced by new designs and even a Rs 2,000 note.

Fast forward to 2023, the Rs 2,000 note is being gradually withdrawn, closing another chapter in India's currency evolution. From anna to paisa, from King George's portrait to Gandhi's, every coin and note carries a story of its time.