A new rupee sign was officially adopted in 2010. It was laid out by D. Udaya Kumar. It was derived without its vertical bar from the combination of the Devanagari consonant "B" and the Latin capital letter "R." It is said that the parallel lines at the top (with white space between them) allude to the Indian tricolor flag, and also represent a sign of equality symbolizing the desire of the country to minimize economic inequality. On 8 July 2011 the first series of coins with the latest rupee sign started circulation. Before that, India used "Rs" and "Re," respectively, as the symbols for multiple rupees and one rupee.
On November 8, 2016, the Government of India announced the demonetisation of approximately 500 and approximately 1,000 banknotes with effect from midnight of the same day, invalidating these notes. In addition to a new denomination of some 2,000 banknotes, a newly revamped sequence of some 500 banknotes has been in circulation since 10 November 2016. The note of about 1,000 was suspended.
A new denomination of some 200 banknotes was added to the Indian currency structure on August 25 , 2017 to fill the note gap due to high demand after demonetisation for this note.The Reserve Bank released the redesigned series of some 1100 banknotes in July 2018.
India's government has the sole right to mint the coins and one rupee note. Coinage liability rests with Coinage Act, 1906, which is amended from time to time. The Government of India is also responsible for the production and minting of coins in different denominations. Coins are minted at the four mints of the Indian government at Mumbai, Alipore (Kolkata), Saifabad (Hyderabad), Cherlapally (Hyderabad) and Noida (UP). Coins are distributed for circulation only under the RBI Act through the Reserve Bank.