Prime Minister Narendra Modi recently marked the completion of 90 years of the Reserve Bank of India (RBI) by unveiling a special commemorative coin worth Rs 90. This unique coin, the first of its kind in India, is crafted from 40 grams of pure silver, highlighting the significance of this milestone event in the country's banking history.
The release of this special coin signifies the pivotal role that the RBI has played in shaping India's financial landscape over the past nine decades. Established in 1934, the RBI has been instrumental in maintaining the stability and integrity of the banking system, ensuring monetary policy effectiveness, and fostering financial inclusion across the nation.
Crafted with Precision
One of the standout features of the Rs 90 coin is its exquisite craftsmanship. Made from 99.9 percent pure silver, this commemorative piece bears the iconic RBI logo on one side and the denomination "Rs 90" inscribed on the reverse. The coin also proudly displays the word "India" in both Hindi and English, symbolising the diversity and unity of the nation.
Additionally, the upper perimeter of the coin carries the inscription "Reserve Bank of India" in Hindi, while the lower perimeter features the same in English. Beneath the RBI logo, the phrase "RBI @ 90" serves as a tribute to the enduring legacy of the central bank.
Significance and Rarity
The issuance of this special coin holds great significance, not only for collectors but also for the broader public. It serves as a tangible symbol of the RBI's invaluable contribution to India's economic growth and development. Moreover, being a limited edition release, with only a finite number minted, the Rs 90 coin carries a sense of exclusivity and rarity.
Priced at a premium above its face value, the estimated cost of the coin ranges between Rs 5200 to 5500. This premium reflects both the intrinsic value of the silver used and the historical significance attached to the occasion.
Acknowledging RBI's Role
In his remarks, Prime Minister Modi lauded the pivotal role played by the RBI in strengthening the country's banking ecosystem. He emphasised the profound impact of the RBI's decisions on the lives of ordinary citizens, highlighting its efforts towards financial inclusion and empowerment.
Over the years, the RBI has consistently demonstrated its commitment to maintaining price stability, fostering economic growth, and promoting financial literacy. As India continues to navigate through various economic challenges, the central bank's role remains indispensable in ensuring a robust and resilient financial system.
In Conclusion
The unveiling of the Rs 90 commemorative coin marks a significant milestone in India's banking history, celebrating the remarkable journey of the Reserve Bank of India over the past nine decades. As the custodian of monetary stability and financial integrity, the RBI continues to uphold its mandate with diligence and dedication, shaping the contours of India's economic future.
