Rupee Rampage
Introduction
The rupee is the common name for the currencies of India, Pakistan, Sri Lanka, Nepal, Mauritius,
Seychelles, Maldives, Indonesia and formally those of Burma and Afghanistan. Historically, the currency called “rupee” was introduced in the 16th century by Sher Shah Suri, founder of the Sur
Empire of Northern India. The term Rupya, a Sanskrit term for silver coin, from Sanskrit rupa beautiful form. India was one of the first issuers of coins.
The Indian rupee is the only tender in India, and is also accepted in the neighboring Nepal, Bhutan, both of which peg their currency to that of Indian rupee. The RBI started producing notes in the year 1938. At present RBI controls the issuance and management of currency of India. The rupee is divided into 100 paisa. On each bank note, the amount is written in 17 different languages of
India
Indian economy background
India’s economic journey from an underprivileged country to an emerging global economy is an inspiring example for many developing nations. In order to understand India’s economic journey, it is essential to shed some light on India’s political and economic history. After Independence
India faced a number of issues including a shattered economy, a minimal rate of literacy and horrific poverty. Indian economy came to notice only after 1991 reforms; Prime Minister
Narasimha Rao took steps towards liberalization and privatization to reform India’s economy.
Manmohan Singh, who was the finance minister at that time went forward and introduced several economic reforms.
The combination of foreign direct investment and expertise in information technology helped produce thousands of new jobs and created a growing middle class that in turn created increased domestic consumption and that resulted, again, in more foreign direct investments to meet the demand of Indian consumers. Presently the developing country; India is facing lot of problem with regard to inflation, current account
The rupee is the common name for the currencies of India, Pakistan, Sri Lanka, Nepal, Mauritius,
Seychelles, Maldives, Indonesia and formally those of Burma and Afghanistan. Historically, the currency called “rupee” was introduced in the 16th century by Sher Shah Suri, founder of the Sur
Empire of Northern India. The term Rupya, a Sanskrit term for silver coin, from Sanskrit rupa beautiful form. India was one of the first issuers of coins.
The Indian rupee is the only tender in India, and is also accepted in the neighboring Nepal, Bhutan, both of which peg their currency to that of Indian rupee. The RBI started producing notes in the year 1938. At present RBI controls the issuance and management of currency of India. The rupee is divided into 100 paisa. On each bank note, the amount is written in 17 different languages of
India
Indian economy background
India’s economic journey from an underprivileged country to an emerging global economy is an inspiring example for many developing nations. In order to understand India’s economic journey, it is essential to shed some light on India’s political and economic history. After Independence
India faced a number of issues including a shattered economy, a minimal rate of literacy and horrific poverty. Indian economy came to notice only after 1991 reforms; Prime Minister
Narasimha Rao took steps towards liberalization and privatization to reform India’s economy.
Manmohan Singh, who was the finance minister at that time went forward and introduced several economic reforms.
The combination of foreign direct investment and expertise in information technology helped produce thousands of new jobs and created a growing middle class that in turn created increased domestic consumption and that resulted, again, in more foreign direct investments to meet the demand of Indian consumers. Presently the developing country; India is facing lot of problem with regard to inflation, current account