5 Rupee Coin: The central government takes the decision on how many coins are to be made in which year. After this, the government orders the Reserve Bank of India, and then Reserve Bank of India makes coins. It is pertinent to inform you that even though the coin or note gets discontinued or is in the process of being issued, RBI needs the approval of the central government. The Reserve Bank of India can only then ban coins or notes.
Coins ranging from 1 rupee to 20 rupees currently circulate in India, and there have been ongoing news releases about the issuance of coins in denominations of 30 and 50 rupees from time to time. As a matter of fact, the news is reportedly declaring that the said trying phase has begun between the central government and the Reserve Bank of India for the latest announcement: the 5 rupee coin will be disencumbered. Thus, let’s get into the further detail regarding this news.
5 rupee coin will be discontinued
As you all know that currently there are many different varieties of coins concerning the value of 5 rupees – one is brass and the other is in thick metal. Currently, the brass coins of 5 rupees are quite available and however, the thicker coins are now decreased in number. Let us tell you that currently there is no thick metal 5 rupee coin with both Central Government and Reserve Bank of India.
Why was the 5 rupee coin discontinued?
Let us tell you that there is a vast reason behind the stopping of those thick 5 rupee denominations. For your information, thick metal is used in making blades as well with that thick 5 rupee coin around 4-5 blades can be made. After that, some people had already started making blades out of 5 rupee coins which led the Government and Reserve Bank of India to discontinue the thick 5 rupee coins.
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