Who discovered sign of new rupee? The sign of the new rupee discovered from a competition to create a sign for the Indian rupee. The contest has been announced by the Indian government On 5 March 2009. During the 2010 Union Budget, Finance Minister Pranab Mukherjee mentioned that the proposed sign would reflect and capture the Indian ethos and culture. Before the new symbol, the rupee referred to by the abbreviations "Rs", "Re" or "INR". 3,331 responses has been received by the Indian government to join the contest with a cash prize of 250,000 rupees (5,350 dollars). On 24 June 2010, Five signs by Nondita Correa-Mehrotra, Hitesh Padmashali, Shibin KK, Shahrukh J Irani, and D Udaya Kumar had been short-listed. the Union Council of Ministers of India held a meeting on 24 June 2010 to finalized the new rupee symbol. On 15 July 2010, the council selected the symbol created by D.Udaya Kumar son of N. Dharmalingam.
Udaya Kumar is a B.Arch and student of visual communication at the Industrial Design Centre, IIT Bombay. Udaya Kumar explain that his design is based on the tricolour, with two lines at the top and white space in between. He wanted the symbol for the rupee to represent the Indian flag. It is a perfect blend of Indian and Roman letters: a capital 'R' and Devanagari letter "र" (ra) which represents rupiya, to appeal to international audiences and Indian audiences.
The first series of coins with the rupee symbol was launched on 8 July 2011. Coins of denomination of Rupees 1,2,5 and 10 with the new Rupee Symbol have been put into circulation. As of January 2012, the new Indian rupee sign has been incorporated in the currency notes in the denominations of 10, 100, 500 and 1,000 and as of 12 April 2012 this was extended to denominations of 20, and 50.
