G20 commemorative coins

G20 commemorative coins

Subject :Economy

Section: Monetary Policy

Context: The government will issue two commemorative coins to mark G20 presidency. India holds the presidency of the G20 from December 1, 2022 to November 30, 2023.

Are commemorative coins legal tender?

• Though commemorative coins are considered legal tender, they are not released for general circulation. One can source them from the specified agencies.

Details of commemorative coins

• According to a gazette notification, “The coins of ₹100 and ₹75 denominations shall only be coined at the mint for issue under the authority of the Central Government on the occasion of ‘India’s G20 Presidency.”
• The dimensions of both the coins will be similar. Shape will be circular with outside diameter of 44 millimeters. The number of serrations will be 200. The metal composition will be a quaternary alloy with a composition of silver (50 per cent), copper (40 per cent), nickel (05 per cent) and zinc (05 per cent).
• The face of both the coins will bear the lion capital of Ashoka Pillar in the centre with the legend ‘Satyamev Jayate’inscribed below, flanked on the left periphery with the word ‘Bharat’ in Devnagri script and on the right periphery with the word ‘India’ in English.
• It shall also bear the Rupee symbol ‘₹’’ and denominational value of ‘100’ and ‘75’ in the international numerals below the lion capital. On the reverse face, the coins shall bear the design of shall bear the design of the logo of India’s G20 Presidency in the centre. The inscription ‘Vasudhaiva Kutumbakam’ shall be written in Devnagari script on the upper periphery of the coin and the inscription “ONE EARTH • ONE FAMILY • ONE FUTURE” in English shall be written on lower periphery of coins.
• The theme of India’s G20 Presidency — “Vasudhaiva Kutumbakam” or “One Earth · One Family · One Future”— is drawn from the ancient Sanskrit text of the Maha Upanishad.
• Essentially, the theme affirms the value of all life – human, animal, plant, and microorganisms – and their interconnectedness on the planet Earth and in the wider universe. The theme also spotlights LiFE (Lifestyle for Environment), with its associated, environmentally sustainable and responsible choices, both at the level of individual lifestyles as well as national development, leading to globally transformative actions resulting in a cleaner, greener and bluer future.
• For India, the G20 Presidency also marks the beginning of “Amritkaal”, the 25-year period beginning from the 75th anniversary of its independence on 15 August 2022, leading up to the centenary of its independence.