The Reserve Bank of India’s (RBI) newly issued 10 rupee (Rs10) coins may separate into two pieces, according to news accounts.
The bimetal coins were originally set for release three years ago. The Telegraph quoteded a RBI official on Friday as saying: "We had to delay the release of the coins because of the defect."
Apparently, a defect is still present. Reports are that some of the coins’ outer rings may break away from their inner center piece. Mint counting machines experienced about a 2-3% failure rate, according to The Telegraph. That same rate is cited for potential failure once the coins circulate and begin to wear. Read the rest of this entry »
A pilot program launched in October to sell gold coins at India Post Offices is proving to be so popular that 15 additional post offices were added in Karnataka on Monday, with even more to come soon.
"By month-end, sale of gold coins will be extended to five post offices each in north Karnataka and south Karnataka," chief postmaster general M P Rajan said.
"Under the scheme launched on October 15 in Delhi, Maharashtra, Gujarat and Tamil Nadu, 8,500 gold coins were sold in 15 days," he said.
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India Post Offices have begun a new service that is uniquely creative. They are selling 24 carat gold coins across the country.
The first phase of a pilot program launched on Wednesday, October 15, with gold coins sold in the popular denominations of 0.5 grams, 1 gram, 5 grams and 8 grams.
The four coins are available within 102 Post Offices in the key cities of Delhi, Maharashtra, Gujarat and Tamil Nadu Circles. The service is expected to gradually extend based on public response, with the Department of Post directed to distribute the gold pieces to rural post offices.
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India’s government announced on Saturday that it would issue a commemorative coin celebrating Sister Alphonsa. Pope Benedict XVI conferred Sainthood on her Sunday, making her the first native-born saint from India
"This exceptional woman, who today is offered to the people of India as their first canonized saint, was convinced that her cross was the very means of reaching the heavenly banquet prepared for her by the Father," said Pope Benedict XVI.
"She wrote, ‘I consider a day without suffering as a day lost.’ May we imitate her in shouldering our own crosses so as to join her one day in paradise," he added.
St. Alphonsa Muttathupandathu was a nun from a remote village in Kerala (Southwestern India) who was known for her holiness during a lifetime of extreme physical suffering. She was born on August 19, 1910, and passed away 62 years ago.
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The Reserve Bank of India (RBI) has announced new five rupee coins to commemorate Gandhi’s ‘75 Years of Dandi March’ and social reformer ‘Mahatma Basaveshwara’.
In 1930 and to protest a British-imposed salt tax, Gandhi led Indians in a non violent, 400 km (249 mi) Dandi Salt March. The journey began in Sabarmati Ashram on March 12 and ended April 6 when Gandhi broke the British Salt Law at Dandi at 6:30 am.
India’s Prime Minister Dr. Manmohan Singh once described Basaveshwara as an extraordinary personality who wielded temporal power and, at the same time, had a spiritual bent of mind.
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