14th PM of India Narendra Modi is to release a commemorative coin of Rs 100 in honour of Vijaya Raje Scindia on 12 Oct 2020. Scindia is also known as Rajmata of Gwalior. Rs 100 coin is being released to celebrate the birth centenary of Vijaya Raje Scindia. Vijaya Raje Scindia was one of the Founder members of the Bharatiya Janata Party.
Nirmala Sitharaman Finance ministry minted the special commemorated coin as a part of the celebrations.
Vijaya Raje Scindia
Vijaya Raje Scindia was elected Seven time as a member of Lok Sabha. Also, Raje Scindia had been elected two time as a Rajya Sabha member. Raje Scindia was a prominent Indian political personality. She ranked among the highest Royal figures during the British raj days. She was the consortt of the last ruler of Gwalior Jiwaji Rao Scindia. She was also an active member of Jana sangh.
In 1957, Raje Scindia initially contested the elections with a Congress ticket in Madhya Pradesh. Later In 1967, Raje Scindia quit Congress . Her mother was a part of Royal Nepali family. She exiled to India along with her maternal grandmother. Vijaya’s mother died shortly after her birth and was raised by her maternal grandmother.
Coinage Act, 2011
Coins in India are minted as per the Coinage Act, 2011. However, the currency notes are printed by the Central Bank RBI according to the Reserve Bank of India Act, 1934. Also, the Circulation of currency and coins is done by Reserve Bank of India. The currency note of Rs 1 is printed by the Ministry of Finance instead of Reserve Bank of India. Also, the coins are minted by the Finance Ministry. All the other currency notes from Rs 2 Rupees to Rs 10000 are printed by Reserve Bank of India.
Coinage Act, 2011 says that the metallic value of coin should not be more than that of the face value of the coins. This is to avoid selling of metal of the coin in the market.
Rs 100 Commemorative Coin in honour of Vijaya Raje Scindia Rs 100 Commemorative Coin in honour of Vijaya Raje Scindia