For the inauguration of the new Parliament the RBI is bringing out a commemorative Rs 75 coin. Yet again just like the relatively useless Rs 2000 note for the common man, we have a useless denomination of the Rs 75 coin being launched.
In the currency systems around the world but for the basic 5 denomination coin or banknote there is no currency of higher denomination in odd multiples of 5.
India will have the record of being the first country to have a Rs75 coin. The saving grace is that this coin will not be used as common legal tender since commemorative coins remain commemorative with collectors.
