On Mathe Government announced a contest to create a symbol for the Rupee, inviting entries for the symbol, which would reflect and capture the Indian ethos and culture. It will also be incorporated in software packages and keyboards in use in India. The encoding of the rupee symbol in the Indian Standards is estimated to take about six months while encoding in the Unicode and ISO/IEC 10646 will take about 18 months to two years. The new symbol will not be printed or embossed on currency notes or coins, but it would be included in the 'Unicode Standard' to ensure that it is easily displayed and printed in the electronic and print media. Ambika Soni, while briefing the media on the Cabinet decision. The symbol would lend a distinctive character and identity to the currency and further highlight the strength and global face of the Indian economy," said Information and Broadcasting Minister Smt. "It's a big statement on the Indian currency. The new symbol designed by IIT Bombay post-graduate Shri D.Udaya Kumar, was approved by the Union Cabinet on July 15. Till now, the rupee was written in various abbreviated forms in different languages. The new symbol is an amalgamation of Devanagari –‘Ra’ and the Roman ‘R’ without the stem. Jturned out to be a historic day, as the Indian Rupee got the much awaited symbol, just like other leading currencies of the world viz – Dollar, Euro, Pound Sterling and the Yen.
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