The Rs 20 coin will have some similarities with the Rs 10 coin that is in circulation across the country.
The Finance Ministry on March 6 announced in a gazette notification to roll out Rs 20 coin for the first time in the country. The new coin will be shaped like a "dodecagon" - a 12-edged polygon.
The Rs 20 coin will have some similarities with the Rs 10 coin that is in circulation across the country. The new coin will be two-toned and have a diameter of 27 mm, similar to Rs 10 coin.
The outer ring of Rs 20 coin will be 65 percent copper, 15 percent zinc and 20 per nickel, the inner disc will be 75 percent copper, 20 percent zinc and five percent nickel.
The face of the coin shall bear the Lion Capitol of Ashoka Pillar with the legend “Satyamev Jayate” inscribed below, flanked on the left periphery with the word “Bharat” in Hindi and on the right periphery with the word “INDIA” in English.
However, unlike the circular 10-rupee coin, the Rs 20 coin will not have any marks on its edges. The ministry has not given any other cues on its design or appearance yet in the notification.
Further, the government will also release the new series of prototypes of coins of Re 1, Rs 2, Rs 5 and Rs 10, as per the extraordinary notification by the Gazette of India.
Interestingly, the Reserve Bank of India had issued the first 10-rupee coin nearly 10 years ago in March 2009. Since then, there have been 13 iterations of the coin.While these iterations often lead to confusion among the public, the central bank issued a clarification last year saying that all 14 kinds of coins continue to be legal tender.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.