Why India still have paisa?

mobi · Post by **mobi** » Fri Sep 09, 2011 6:22 pm

From this June, any denomination below 50p ceased to be a legal tender.

May be India should go towards Yen or Lira system. Paisa has already lost the significance because of inflation. :(

layman · Post by **layman** » Fri Sep 09, 2011 7:55 pm

mobi;409112From this June, any denomination below 50p ceased to be a legal tender.
[/quote]
Jeez, is that real? Can you post a link?
[quote]
May be India should go towards Yen or Lira system. Paisa has already lost the significance because of inflation. :(

mobi · Post by **mobi** » Fri Sep 09, 2011 8:06 pm

http://en.wikipedia.org/wiki/Indian_rupee

The modern rupee is subdivided into 100 paise (singular paisa) though this division is now theoretical; as of 30 June 2011, coin denominations of less than 50 paise ceased to be legal tender