The Coinage Act, 2011

(1) This Act may be called the Coinage Act, 2011. (2) It extends to the whole of India. (3) It shall come into force on such date1as the Central Government may, by notification in theOfficial Gazette, appoint.

In this Act, unless the context otherwise requires,-- (a) "coin" means any coin which is made of any metal or any other material stamped by theGovernment or any other authority empowered by the Government in this behalf and which is a legaltender including commemorative coin and Government of India one rupee note. Explanation.--For the removal of doubts, it is hereby clarified that a "coin" does not include thecredit card, debit card, postal order and e-money issued by any bank, post office or financialinstitution; (b) "commemorative coin" means any coin stamped by the Government or any other authorityempowered by the Government in this behalf to commemorate any specific occasion or event andexpressed in Indian currency; (c) "deface" means any type of clipping, filing, stamping, or such other alteration of the surfaceor shape of a coin as is readily distinguishable from the effects or reasonable wear; (d) "Government" means the Central Government; (e) "issue" means to put a coin into circulation for use as money; (f) "metal" means any metal, base metal, alloy, gold, silver or any other material which may beprescribed by the Government for the purpose of any coin; (g) "Mint" means the Security Printing and Minting Corporation of India Limited formed andincorporated under the Companies Act, 1956 (1 of 1956) or any other organisation established by orunder the authority of the Government to make a coin by stamping metal; (h) "notification" means notification published in the Official Gazette; (i) "per cent." means the percentage of metals prescribed for any coin; (j) "prescribed" means prescribed by rules made under this Act; (k) "remedy" means variation from the standard weight and fineness; (l) "standard weight" means the weight prescribed for any coin.

The Government may, by notification,-- (a) establish a Mint at any place which may be managed by it or by any other person, which maybe authorised for this purpose: Provided that the Mints established before the commencement of this Act shall be deemed tohave been established by the Government under this section: Provided further that where the Government is of the opinion that it is necessary or expedient inthe public interest so to do, it may authorise the minting of coins by any organisation or Governmentof any foreign country, within or beyond the limits of India and acquire such coins either by way ofimport or otherwise for issue under its authority; (b) abolish any Mint.

Coins may be minted at theMints or at any other place authorised under the proviso to section 3 of such denominations not higherthan one thousand rupees and of such dimensions and designs and containing such metals or mixedmetals of such composition or any other material as may be prescribed by the Government.

The standard weight of the coin of any denomination, mintedunder the provisions of section 4, and the remedy allowed in making of such coins, shall be such as maybe prescribed in this behalf by the Government from time to time.