Archive – India

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Termite alarm in the bank vault

Termites have eaten through 10 million rupees worth of bank notes at the Indian town of Barabanki... more ]

India prevents coins from being melted to razor blades

Because small Indian rupees were made of stainless steel people melted them down producing razor blades out of them which were worth much more than the original coin’s denomination. Now India has introduced new coins made of alloys... more ]

Private issues to beat small denomination shortage

India is facing an urgent shortage of small denominations. Retailers pay a heavy premium to money changers when providing themselves with change. Now a private syndicate issues its own money. more ]

East India Company to mint again legal tender

The new East India Company, a luxury brand, has announced the issue of legal tender in a centenary tradition. Two Mohur and two Cash coins will be minted by the Royal Mint. more ]

Gold Medals, not jewelry, popular in India

China and India are two of the largest gold consuming nations on earth. In India, by tradition, the family’s wealth in the form of gold jewelry has been typically worn by the wife. Now all that may be changing. more ]

How much worth is a rupee?

How much worth is an Indian one rupee coin? Some people demand 2,500 rupees for it. Probably the coin’s intrinsic value exceeds the face value. But not because of its alleged gold content ... more ]

Indian police crack international counterfeit gang

After a tip-off Indian police succeeded in cracking an international gang of counterfeiters operating between India and Nepal. Police seized 30,000 5 Rs coins and three suspects. The coins were produced in Nepal and then imported into the country. more ]

Zero Rupee Notes Against Corruption

Since 2007, rupee notes with the nominal value “0” have been in circulation in India. A private organisation started the campaign to draw attention to the problem of corruption. The public is invited to symbolically “pay” corrupt officials with the Zero Rupee Notes. more ]

Indian printing company suspends officials over defective currency notes

Missing security features are the reason why two high-ranking employees of a banknote printing company located in the Indian city Hoshangabad are jobless now. Already circulating, tens of thousands of 500 and 1000 rupee notes have to be withdrawn now. more ]

At the cost of the weakest

To combat corruption and tax evasion, India withdrew its two highest rupee denominations. The repercussions of this measure are especially dreadful for the poor rural population and the women. more ]

Gold as a safe haven?

Ask your investment consultant. He will tell you that gold has been a safe haven since the creation of the world. And when he tells you so, he has forgotten that the American ban of gold ownership was lifted as late as December 31, 1974. more ]

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