BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
15th August 1947
|
|
|
26th January 1950
|
|
|
1st April 1957
|
|
|
All of the above
|
Detailed explanation-1: -The Act came into force on 1 April 1957 fifty years ago. The rupee remained unchanged in value and nomenclature. It, however, was now divided into 100 ‘paisa’ instead of 16 annas or 192 paise. India became independent on 15 August 1947 and was left with a legacy of non-decimal coinage.
Detailed explanation-2: -The committee then put plans in place to introduce the new currency. Decimal Day was set for 15 February 1971, when the new coins would be introduced. It was a momentous day for the national currency, and the beginning of a period of planning and changes for The Royal Mint.
Detailed explanation-3: -Aryabhata and other mathematicians of ancient India first adopted the decimal system of numbers and place value system writing numbers the way we do today.
Detailed explanation-4: -The Decimal system of currency was introduced in India on April 1, 1957. A decimal currency system means that each currency unit can be divided into 100 sub-units. India switched from the rupee, anna, and pi system to a decimal currency in 1957.