The design was chosen in a competition won by a teacher at one of the country’s Indian Institutes of Technology. Uday Kumar’s design was chosen from a shortlist of five and he was awarded around £3,500 in prize money. Interestingly, the short-list of five that was in circulation didn’t include the chosen option.
The symbol won’t be printed or embossed on currency notes or coins, but will be included in the Unicode Standard and major scripts of the world to ensure that it’s easily displayed and printed in the media.
The symbol will also distinguish the Indian currency from some other currencies in the region, like those of Pakistan and Nepal — also called rupee.
Among currencies with distinctive identities, only the pound sterling has its symbol printed on the notes.