In 1957, decimalisation occurred, and the rupee was divided into 100 "naye paise" (Hindi for "new paise"). In 1964, the initial "naye" was dropped. Many still refer to 25, 50 and 75 paise as 4, 8 and 12 annas, respectively, not unlike the usage of "bit" in American English for ⅛ dollar.