NEW DELHI, July 15 (Xinhua) -- The Indian government Thursday joined a select club of countries whose currencies have unique identity after getting a symbol for the Rupee, the Indian national currency.
The Union Cabinet Thursday approved the design, which includes both the Devnagiri (Hindi script) "Ra" and the Roman capital "R" and has two parallel lines running at the top. The parallel lines symbolize the equal to sign.
"With this India will join an elite group of countries which have a distinct currency symbol. It denotes the robustness of Indian economy. I will now hold up the design that was finally selected. This was sent in by Udaya Kumar," Minister for Information and Broadcasting Ambika Soni said.
All new currency notes will now bear the symbol.
"The Rupee symbol is a nice blend of modernity and Indian culture," she said.
The symbol selected has been designed by an Indian Institute of Technology (IIT) post graduate D. Udaya Kumar. The design was selected from among five shortlisted symbols.
Kumar, who is with the Department of Design at Indian Institute of Technology (IIT) Guwahati in the northeast Indian state of Assam, explained that the design is based on the Indian Tricolor of yellow, white and green.
"My design is based on the Tricolor with two lines at the top and white space in between. I wanted the symbol for the Rupee to represent the Indian national flag.
It is a perfect blend of Indian and Roman letters: a capital 'R, and Devnagari 'Ra', which represent rupiya, to appeal to international and Indian audiences," Kumar said.
"After working on the design for few months, I shortlisted eight to 10 designs and then refined them further till I got this one," he added.