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Core Purpose

Notification of the Coinage (Issue of Commemorative Coin on the occasion of centenary celebration of Karnataka Bank) Rules, 2023, prescribing a one hundred rupee commemorative coin.

Detailed Summary

By G.S.R. 927(E) dated 29th December 2023, the Ministry of Finance (Department of Economic Affairs), exercising powers under clauses (d) and (e) of sub-section (2) of section 24 of the Coinage Act, 2011 (11 of 2011), notified the Coinage (Issue of Commemorative Coin on the occasion of centenary celebration of Karnataka Bank) Rules, 2023, effective from the date of publication, providing for a one hundred rupee circular coin of 44 millimetre diameter with 200 serrations composed of a quaternary alloy (50 per cent silver, 40 per cent copper, 5 per cent nickel and 5 per cent zinc), with a standard weight of 35 grams (permissible remedy of 1/500th in silver composition and 1/100th, i.e. 34.65 to 35.35 grams, in standard weight); the First Schedule prescribes the coin's obverse (Lion Capital of Ashoka with 'Satyamev Jayate', 'Bharat' and 'India' legends, the Rupee symbol and denomination '100') and reverse design bearing the Karnataka Bank centenary logo and the inscription '1924-2024'; the notification is signed by Aparna Bhatia, Adviser, under File No. 02/27/2023-Coin.

Full Text

8012 GI/202 3 (1) रजिस्ट्री सं. डी.एल.- 33004/99 REGD. No . D. L. -33004/99 EXTRAORDINARY PART II —Section 3 —Sub-section ( i) PUBLISHED BY AUTHORITY (1) (2) (3) (4) No. 743] NEW DELHI, FRIDAY , DEC EMBER 29, 2023/ PAUSHA 8, 1945 CG-DL-E-29122023-250980 (1 ) (2 ) (3 ) (4 ) MINISTRY OF FINANCE (Department of Economics Affairs) NOTIFICATION New Delhi, the 29 th December, 2023 G.S.R . 927 (E).—In exercise of the powers conferred by clauses (d) and (e) of sub -section (2) of section 24 of the Co inage Act, 2011(11 of 2011), the Central Government hereby makes the following rules, namely: - 1. Short title and commencement .- (1) These rules may be called the Coinage (Issue of Commemorative Coin on the occasion of centenary celebration of Karnataka B ank) Rules, 2023. (2) They shall come into force on the date of their publication in the Official Gazette. 2. Denomination of coin .- The coin of One Hundred Rupees denomination shall be coined at the Mint for issue under the authority of the Central Gover nment on the occasion of centenary celebration of Karnataka Bank. 3. Dimension and composition of coin .- The denomination of the coin mentioned in rule 2 shall conform to the following dimensions and composition, namely: - 4. Design .- The design of the coin shall be as specified in the First Schedule to these rules. 5. Standard weight and remedy allowed .- The standard weight of the denomination referred in rule 2 shall be coined to commemorate the occasion of centenary celebration of Karnataka Bank and the remedy allowed in making of such coin shall be as specified in the Second Schedule to these rules. First Schedule [See rule 4] ONE HUNDRED RUPEES OBVERSE: This face of the coin shall bear the Lion Capitol of Ashoka Pillar in the centre with the legend “सत्यमेि ियते” inscribed below, flanked on the left periphery with the word “भारत” in Devnagri script and on the right periphery with the word “ INDIA ” in English. It shall also bear the Rupee symbol “ ₹” and denominational value “ 100” in the internat ional numerals below the Lion Capitol. REVERSE: The face of the coin at the centre shall bear the logo featuring centenary celebration of Karnataka Bank . The inscription “ 1924 -2024 ” shall be written below the logo. Along the upper periphery of the coin, t he inscription कर्णाटकण बैंक कण शतणब्दी वर्ा shall be written in Devnagari script and the inscription CENTENARY YEAR OF KARNATAKA BANK in English shall be depicted on the lower periphery of the coin. Second Schedule [See rule 5] Denomination of the coin Standard weight Remedy allowed In composition In standard weight (1) (2) (3) (4) One Hundred Rupees 35 Grams 1/500th plus or minus for Silver, that is to say, the Silver content may vary from 498 to 502 per 1000. 1/100th plus or minus, that is to say, the weight could vary from 34.65 grams to 35.35 grams. [F.No. 02/27/2023 -Coin] APARNA BHATIA , Adviser Uploaded by Dte. of Printing at Government of India Press, Ring R oad, Mayapuri, New Delhi -110064 and Published by the Controller of Publications, Delh i-110054. Denomination of the coin Shape an d outside diameter Number of serrations Metal composition (1) (2) (3) (4) One Hundred Rupees Circular 44 millimetre 200 Quaternary Alloy Silver - 50 per cent. Copper -40 per cent. Nickel - 05 per cent. Zinc - 05 per cent.

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