The Indian rupee will soon have a unique symbol — a blend of the Devanagri ‘Ra’ and Roman ‘R’ — joining elite currencies like the US dollar, euro, British pound and Japanese yen in having a distinct identity.
The new symbol, designed by Bombay IIT post-graduate D Udaya Kumar, was approved by the cabinet — reflecting that the Indian currency, backed by an over-trillion dollar economy, was finally making its presence felt on the international scene.
Mr. Kumar’s winning entry was chosen from 3,000 designs received for the currency symbol competition. He will get an award of Rs. 2.5 lakh from the Finance Ministry. The jury, headed by an RBI Deputy Governor, had sent five short-listed entries for the Cabinet’s approval.
D Udaya Kumar
Udaya Kumar’s design is based on the Tricolour and ‘arithmetic equivalence’. The white space between the two horizontal lines gives the impression of the national flag with the Ashok Chakra, the two bold parallel lines stand for ‘equals to’, representing balance in the economy, both within and with other economies of the world.
The other shortlisted entries are given below.
Shahrukh J Irani
K K Shibin.
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