Govt to release Rs. 75 Coin on New Parliament Building Inauguration day

The Ministry of Finance, Department of Economic Affairs, has issued a notification on May 25, 2023, introducing the Coinage (Issue of Commemorative Coin on the occasion of Inauguration of New Parliament Building) Rules, 2023. The key points of the rules are as follows:

1. Short title and commencement: The rules, known as the Coinage (Issue of Commemorative Coin on the occasion of Inauguration of New Parliament Building) Rules, 2023, come into force on the date of their publication in the Official Gazette.

2. Denomination of coin: A coin with a denomination of Seventy Five Rupees will be minted at the Mint under the authority of the Central Government to mark the occasion of the Inauguration of New Parliament Building.

3. Dimension and composition of coin: The coin will have a circular shape with a diameter of 44 millimeters and 200 serrations. It will be composed of a Quaternary Alloy Silver (50%), Copper (40%), Nickel (05%), and Zinc (05%).

4. Design of the coin: The coin will bear the Lion Capitol of Ashoka Pillar on the obverse side with the inscription “सत्यमेव जयते” below. It will also feature the words “भारत” in Devnagri script and “INDIA” in English, along with the Rupee symbol “₹” and the denominational value “75.” The reverse side will depict the image of the Parliament Complex with the inscriptions “संसद संकुल” in Devnagari script and “PARLIAMENT COMPLEX” in English. The year “2023” will be displayed below the image.

5. Standard weight and remedy allowed: The standard weight of the coin will be 35 grams. The permitted deviation in composition will be 1/500th (Silver content may vary from 498 to 502 per 1000), and the permissible weight variation will be 1/100th (weight could vary from 34.65 grams to 35.35 grams).

This notification aims to establish the rules and specifications for the commemorative coin to be issued on the occasion of the Inauguration of the New Parliament Building.

MINISTRY OF FINANCE
(Department of Economics Affairs)
NOTIFICATION
New Delhi, the 25th May, 2023

G.S.R. 389(E).In exercise of the powers conferred by clauses (d) and (e) of sub-section (2) of section 24 of the Coinage Act, 2011(11 of 2011), the Central Government hereby makes the following rules, namely:-

1. Short title and commencement.- (1) These rules may be called the Coinage (Issue of Commemorative Coin on the occasion of Inauguration of New Parliament Building) Rules, 2023.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. Denomination of coin.- The coin of Seventy Five Rupees denomination shall be coined at the Mint for issue under the authority of the Central Government on the occasion of Inauguration of New Parliament Building.

3. Dimension and composition of coin.- The coin of the above denomination mentioned in rule 2 shall conform to the following dimensions and composition, namely:-

4. – The design of the coin shall be as specified in the First Schedule.

5. Standard weight and remedy allowed.- The standard weight of the coin of above denomination coined to commemorate the occasion of Inauguration of New Parliament Building and the remedy allowed in making of such coin shall be as specified in the Second Schedule.

The First Schedule

(See rule 4)

SEVENTY FIVE RUPEES

OBVERSE:

This face of the coin shall bear the Lion Capitol of Ashoka Pillar in the centre with the legend “सत्यमेव जयते” inscribed below, flanked on the left periphery with the word “भारत” in Devnagri script and on the right periphery with the word ” INDIA ” in English. It shall also bear the Rupee symbol “₹” and denominational value “75” in the international numerals below the Lion Capitol.

REVERSE:

This face of the coin shall bear the image of Parliament Complex. The inscription “संसद संकुल” shall be written in Devnagari script on the upper periphery and the inscription “PARLIAMENT COMPLEX” in English shall be written on the lower periphery of the coin. The Year “2023” in International numeral shall be written below the image of Parliament Complex.

The Second Schedule

See rule 5)

[F. No. 02/17/2023-Coin]

AVANISH KUMAR MISHRA, Dy. Director General