The Indian rupee could soon get a unique symbol, with the finance ministry holding a public competition for a design, just like the US dollar ($), the euro (€), the Japanese yen (¥) or the pound sterling (£).
The reason could be India’s growing influence on global economy. Unlike a host of global currencies, the Indian rupee does not have a unique symbol and Rs is the abbreviated form which it shares with currencies from Nepal, Pakistan, Sri Lanka and Seychelles. Similarly, the US shared the dollar ($) symbol with a host of currencies ranging from the Canadian dollar, to that of Australia and Hong Kong
The winning entry for the rupee symbol carries a prize of Rs 2.5 lakh but its designer would have to surrender the copyright to the government.
The jury of examiners would consist of seven members drawn from art institutes such as Sir JJ Institute of Applied Art, National Institute of Design, Lalit Kala Akademi, Indira Gandhi National Centre for the Art & Culture and officials from the government and the Reserve Bank of India. In case of the rupee, the jury would look for symbols which represent the historical and cultural ethos of the country as widely accepted across the country, said a notice put out by the finance ministry on its website.
Besides, the symbol should be such that it is applicable to a standard keyboard in the national language script or a visual representation. The rupee note has 15 Indian languages on it, apart from Hindi and English.
The Government release further said that participants would be required to submit a brief explanation of the design and also justify how it symbolises the Indian rupee.
Want to have a look at the communication of Ministry of Finance, Government of India for this public competition ?
COMPETITION FOR DESIGN
Government of India Ministry of Finance, Department of Economic Affairs
New Delhi Dated, February ,2009
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Major currencies of the world e.g. US Dollar, Pound Sterling, Yen and the Euro have an Identification symbol. The Government of India also proposes to have a symbol for the Indian rupee to be selected through public competition. Accordingly, all Resident Indians (both Professional artists and Non-professionals) are hereby invited to participate in a Competition for design of the ‘Symbol for I ndian Rupee’.
Submission of Entries:
Interested persons may send their entries, along with a bank draft of Rs.500/ (Rupees five hundred only) in favour of the Pay & Accounts Officer, Department of Economic Affairs, New Delhi, drawn on a scheduled commercial bank/nationalised bank at New Delhi as registration fee, to the Under Secretary (Currency), Department of Economic Affairs, North Block, New Delhi – 110 001 to reach him latest by 1300 hours on 15th April 2009. Entries received after the stipulated time shall not be entertained and returned unopened. The Department shall not be responsible for delay by postal services, courier agencies etc. The entries can also be deposited personally at the Information & Facilitation Counter of the Department, near gate No.8, North Block, New Delhi.
The entries should be sent in a properly sealed envelope labelled “Entry for Symbol for the I ndian Rupee”. The entry should be accompanied by a brief explanation of the Design and how it best symbolizes the Indian Rupee and also the bio-data of the applicant with a passport size photograph affixed on the top right hand corner.
Guidelines for preparing entries:
The symbol should be sent only on an A4 size paper in black and white print.
A graphical construction of the symbol design in exact proportions in a bigger size, along with final design, Theme synopsis and concept is required to be submitted.
The symbol should represent the historical & cutural ethos of the country as widely accepted across the country.
The size of the final design should not be smaller than 232 square cm (36 sq inches). It is to be submitted along with minimum TEN different proportionally smaller sizes up to 4 points font size of the text matter.
The symbol should be applicable to standard keyboard. The symbol has to be in the Indian National Language Script or a visual representation.
The symbol should be original work of the participant and must not infringe the Intellectual Property Rights of any third party.
A participant can send a maximum of two entries.
The entry could be an individual project or a team project.
The entries received without the requisite fee shall be out rightly rejected.
The entries sent once shall not be returned.
The final selected symbol shall become the intellectual property of the Government of India and the designer shall not have any right over the same.
The responsibility to comply with the quidelines and other conditions fully lies with the participant and the Government of India shall not be liable for any dispute raised by a third party.
All the entries received by the stipulated date and time and found in order, shall be evaluated by a Jury of Examiners comprising seven members drawn from Art Institutions of repute (such as Sir JJ Institute of Applied Art, National Institute of Design, Lalit Kala Academy, Indira Gandhi Centre for Art & Culture) – three members, Government of India – 2 members and Reserve Bank of India – 2 members.
Five entries shall be shortlisted for final selection. The shortlisted Designers would be required to make a presentation to the Jury and would be awarded a prize of Rs.25,000/- each. The date, time and venue of the presentation shall be communicated separately to the shortlisted designers.
The Designer of the finally selected design will get a prize of Rs.2,50, 000/ and would be required to surrender copyright of the design to the government of India.
The quidelines for preparing entries, other conditions and selection process are available on the website of the Ministry of Finance http://finmin.nic.in
(No. 10/8/06- Cy.II)
(B S Rawat)
Deputy Secretary to the Government of India
Further information can be found on the official site of the Ministry : http://finmin.nic.in