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Indo American News • Friday, July 23 , 2010

online edition: www.indoamerican-news.com

Friday, July 23 , 2010

www.indoamerican-news.com

25

Business IndoAmerican News

STOCKS • FINANCE • SOUTH ASIAN MARKETS • TECHNOLOGY

India’s Rupee Gets a Unique Scripted Symbol of Its Own NEW DELHI: The dollar is $. The Euro is €. The pound is £. But the rupee was stranded without a symbol. The Indian Press Information Bureau, for the first time, released images of the newly selected symbol. According to the Associated Press, ministers made the executive decision at a cabinet meeting after considering five finalist symbol options, all of which it was said, drew inspiration from “the letter R”” in the Roman alphabet and “Ra” from the ancient

Devanagari script used in Hindi. Formerly, the Rupee was indicated by abbreviations, hardly official enough for the currency of one of the world’s fastestgrowing economic forces. It prompted more than 3,000 design submissions to aid this cultural and historical event. Udaya Kumar’s design was ultimately the symbol chosen. Kumar, a post graduate student at the Indian Institute of Technology, now not only gets accolades for contributing to India’s culture, but also will receive a cash prize of 250,000 rupees (now with symbol attached).

“I Hit Upon Representative Devanagari”, Says Graphic Designer Udaya Kumar The horizontal lines, the band between also represent the flag

CHENNAI (Hindu): When D. Udaya Kumar decided to participate in the competition to create a symbol for the rupee, he looked at a number of Indian scripts to come up with a design. “I saw many regional language scripts but I thought many represented only one region of India. But the Devanagari script is the most extensively used in the country, so I decided to go with that.” Speaking to The Hindu on the phone after winning the design competition, Mr. Kumar said the horizontal line on top used in the Devanagari script was unique to India. “The two horizontal lines and the band between also represent the Indian flag.” A native of Kallakurichi in Tamil Nadu, Kumar completed most of his

at the Indian Institute of Technology-Bombay starting 2001, before enrolling for a PhD there in 2005 after a two-year stint in the computer magazine Chip. Set to join IIT-Guwahati as assistant professor, he says the recognition may delay his plans. “I have been receiving calls from the morning D. Udaya Kumar, a research scholar from the and I don’t know if I Indian Institute of Technology (IIT), displays the new symbol he designed for the rupee. can leave for Guwahati on Friday as I had planned,” he says, while expressing his happiness and thankschooling in Chennai. After studying at the School of ing his parents and professors for the Architecture and Planning at Anna help they have given him through University here, he did his Masters’ the years.

INDO AMERICAN NEWS • FRIDAY, july 23 , 2010 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM


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