the decimal currency system was introduced in india in 1950.
the decimal currency system was introduced in india in 1950.
when was the decimal currency system introduced in india?
1950
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prior to 1971, the united kingdom had been using the pounds, shilling and pence as a currency system. many other commonwealth countries had already made the change, or announced their intention to change, to a decimal currency system, including new zealand, india and pakistan. prompted by these changes, the government created the "committee of the inquiry on decimal currency" (halsbury committee) in 1961, which reported in 1963. this committee was tasked with determining how best to decimalise the pound. it was subsequently announced by chancellor james callaghan on 1 march 1966 that the recommendations of the report would be implemented, and that britain was to decimalise its currency. one pound would be subdivided into 100 pence, instead of the 240 pence that was previously the case.
penny (british decimal coin)