The Government of India has decided to assign an internationally recognisable symbol to the Indian rupee, much like the US dollar ($), Euro (€), Pound Sterling (£), Japanese Yen (¥), Russian Rubles (???) and some other major currencies. The GoI has invited the public to suggest symbols for the rupee.
The symbol, the Finance Ministry has announced, should represent the historical and cultural ethos of the country as widely accepted across the country and has to be in the Indian National Language Script or a visual representation.
All valid entries received by the deadline of April 15 will be evaluated by a jury of three members drawn from reputed art institutions and two representatives each from the Government of India and the Reserve Bank of India.
Five entries will be shortlisted at which stage participants will be asked to make presentations to the jury. The winner will get a cash prize of Rs 250,000 while the shortlisted five participants will get Rs 25,000 each.
The selected design will become a property of the government of India.