A contest to find a sign for Indian rupeeThe most logical symbol would be an R with a line across it. The Sanskrit symbol would also be neat.
6 Mar 2009, 0419 hrs IST, Daniel P George, TNN
CHENNAI: The Indian rupee will soon sport a new sign. The Union finance ministry is organising a public competition to design a new symbol for the currency like the dollar sign $.
The successful designer will be awarded Rs 2.5 lakh, but will have to surrender the copyright to the government of India.
According to a circular (No 10/8/06-Cy.II) issued by B S Rawat, deputy secretary, department of economic affairs, ministry of finance, most countries in the world have distinct identification symbols for their currencies, but there is still no official currency sign for the Indian rupee. Only `Rs' is used to represent it, and India shares the abbreviated form of the rupee with Pakistan, Nepal, Seychelles and Sri Lanka.
Reserve Bank of India officials welcomed the move and said the initiative should have been launched decades ago. RBI and finance ministry officials said the search for a symbol was also related to India's growing influence on the global economy.
The jury of examiners comprises seven members drawn from institutes such as Sir J J Institute of Applied Art, National Institute of Design, Lalit Kala Akademi, Indira Gandhi National Centre for the Arts as well as officials from the government and RBI. Members of the jury will look for symbols that represent the widely accepted historical and cultural ethos of the country, the circular states.
Among the guidelines mentioned for designing the sign are that it should be applicable to a standard keyboard, and be in the Indian script or a visual representation. A participant can send a maximum of two entries. The shortlisted designers will have to make a presentation before the jury; each of them will receive Rs 25,000 for their efforts. The last date for submission of entries is April 15.