India will soon have Rs 100 coins in circulation for the first time as the government has decided to come out with these, as also new Rs 10 coins, to commemorate the birth centenary of noted Carnatic singer and Bharat Ratna awardee late M.S. Subbulakshmi, an official said on Wednesday.
On Monday, the Finance Ministry had notified that new coins in the denomination of Rs 100 and Rs 5 will soon be issued to commemorate the birth centenary of the late Chief Minister M.G. Ramachandran of Tamil Nadu.
As per the ministry release, the new coins will bear the portrait of M.S. Subbulakshmi in the centre, along with inscription 'Birth Centenary of Dr. M.S. Subbulakshmi' in Devnagari and English on the upper and lower periphery, respectively.
The year '1916-2016' will be flanked on the right periphery of the coin.
On the obverse side, the coins will bear the "Lion Capitol of Ashoka Pillar" in the centre with the inscription "Satyamev Jayate" below.
"Sri Shanmukhananda Fine Arts and Sangeetha Sabha had requested the Government of India to release Commemorative Coins of Rs 100 and Rs 10 denomination in honour of M.S. Subbulakshmi," the release said.
The commemorative coins will be minted by the Security Printing and Minting Corporation of India Limited (SPMCIL).
"The coins of the denominations (Rs 100 and Rs 5) shall also be coined at the Mint for issue under the authority of the central government to commemorate the occasion of M.G. Ramachandran birth centenary," the Finance Ministry said in a gazette notification dated September 11, notifying the rules on "Coinage of One Hundred Rupees and Five Rupees coins".
The Rs 100 coin will be 44 millimetres in diameter with a metal composition of silver (50 per cent), copper (40 per cent), nickel (5 per cent) and zinc (5 per cent).
On the obverse, the Rs 100 coin will bear the "Lion Capitol of Ashoka Pillar" in the centre with "Satyamev Jayate" inscribed below on it in Devnagari script. It will also bear the rupee symbol and denominational value "100".
On the reverse side, the portrait of M.G. Ramachandran will be in the centre. The standard weight of the Rs 100 coin will be 35 grams.
The new Rs 5 coins will be 23 millimetres in diameter and it will weigh 6 grams. The metal composition of the Rs 5 coin will be Copper (75 per cent), zinc (20 per cent) and nickel (5 per cent).