- NEW DELHI: 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 today — reflecting that the Indian currency, backed by an over-trillion dollar economy, was finally making its presence felt on the international scene.
- Though the symbol will not be printed or embossed on currency notes or coins, it would be included in the 'Unicode Standard' and major scripts of the world to ensure that it is easily displayed and printed in the electronic and print media.
- Among currencies with distinctive identities, only the pound sterling has its symbol printed on the notes.Unicode is an international standard that allows text data to be interchanged globally without conflict.
- After incorporation in the global and Indian codes, the symbol would be used by all individuals and entities within and outside the country.
- The symbol will be adopted in a span of six months in the country, and within 18 to 24 months globally.
- It will feature on computer keyboards and softwares for worldwide use.Kumar's entry was chosen from 3,000 designs competing for the currency symbol.
- Kumar will get an award of Rs 2.5 lakh."It is a perfect blend of Indian and Roman letters — capital 'R' and Devanagri 'Ra' which represents rupaiah, to appeal to international and Indian audiences... My design is based on the tricolour, with two lines at the top and white space in between," a visibly-happy Kumar said.
