The document summarizes the adoption of a new symbol for the Indian rupee currency. Some key points: - In July 2010, India adopted an official symbol for the rupee to represent it globally and join an elite club of currencies with symbols like the US dollar and euro. - The symbol was chosen from entries in a public design competition and aims to reflect Indian culture while standardizing the rupee's representation. - It will not appear on currency notes and coins but will be incorporated into software and online systems to ease identification of the Indian rupee. - Officials estimate it could take 6 months to integrate domestically and 24 months globally as the symbol is promoted to establish the rupee internationally

1. Presentation by : Shailja Dixit MBA, 2 nd SEM.

2. New Symbol adopted 0n 15 July 2010

3. Why a symbol for India ? How did we get this symbol ? What does this symbol mean ? Where will the new symbol be seen ? How long will this process take ? Why India need it now not in future ? What best way to promote it ? Does it going to effect Indian Economy ?

4. 1) US dollar, 2)British pound sterling, 3)Euro, 4)Japanese yen, India 5th currency in the world to have a identity. Indian Rupee finally joined elite club of currencies, which currently has:

5. It recognize the increasing economic linkages between India and the world. Indian economy as a favoured destination for global investments. It reflects and captures Indian ethos and culture. It standardizes the expression of Indian rupee in different languages. Distinguishes Indian currency from whose currencies are also designated as rupee or rupiah, such as Pakistan, Nepal, Sri Lanka and Indonesia.

6. The symbol chosen from a public competition announced in 2009. During the Union Budget 2010 Pranab Mukherjee mentioned that proposed symbol would reflect and capture the Indian ethos and culture. After several rounds of selection of those symbols the cabinet finalized 5 symbols. The selection was based on the decision of a jury headed by Reserve Bank of India Deputy Governor Usha Thorat.

7. The Symbol which finally chosen was the creation of IIT post-graduate Udaya Kumar. Just joined the IIT, Guwahati as a faculty member.

8. Four finalists whose Rupee symbol design had been shortlisted are: 1) Nondita Correa- (architect); 2) Shahrukh Irani (creative director); 3) Shibin K K (School teacher in Kerala); and 4) Hitesh Padmashali (creative director, JWT).

9. ‘ Ra’ in Devanagri script and ‘R’ in Roman. Two parallel lines crossing this ‘Ra’ or ‘R’ denote the symbol “is equal to” one Indian rupee. It also denotes the stability of the economy. The design is based on the tricolour, with two lines at the top and white space in between.

10. Replaces Rs, Re, INR that is used at present. Will NOT be used on currency notes and coins. Keyboards will have the rupee symbol to facilitate ease of use. Ext. market, IT companies incorporate it in operative software to enable the computer users.

11. It Could take 6 months (India) & 24 months(World) for complete shift. As the government will use the time for its incorporation with world market.

12. Rebranding India is more important at this point because India proves stable player in the world economics. Recession two years back brought out a different impression of Indian economy which stunned quite lot worldwide. India one of those few nations who maintained a positive economic growth throughout the recession. To control inflation in country but is still not very clear…. This branding effort is aimed at burnishing the reputation of the country’s overall economy, not just the currency.

13. India is among the top economies in the world in terms of purchasing power parity and is possibly the second-fastest growing economy. This gives a fair chance for the Indian currency to establish itself as a currency of choice for the international community. Hence, creating a symbol for the rupee at this junction will help this cause and enhance the image of the Indian currency.

14. India understand Marketing idea behind promotion so as to market itself to others… The first task is to sell it within India. States have already been told to promote the new currency symbol at large. A grand event can be held for unveiling the brand with the prime minister doing the honours , as he is the best-recognized economist.

15. global road shows at major financial centers. We might also come across campaigns titled ‘I value my rupee.’ India may also utilize the Commonwealth Games 2010 to achieve this brand promotion. In all, this rebranding would act as a powerful force that will drive the India Vision 2020.

16. This raises an obvious question – Does India really want to strengthen rupee against the other elite currencies? or is this the sign that India is ready to strengthen its currency again?. Only time will reveal the answer to these questions.

17. Thank you