<P> The 1911 accession to the throne of the King - Emperor George V led to the famous "pig rupee". On the coin, the King appeared wearing the chain of the Order of the Indian Elephant . Through poor engraving, the elephant looked very much like a pig . The Muslim population was enraged and the image had to be quickly redesigned . </P> <P> Acute shortage of silver during the First World War, led to the introduction of paper currency of One Rupee and Two and a half Rupees . The silver coins of smaller denominations were issued in cupro - nickel . The compulsion of the Second World War led to experiments in coinage where the standard rupee was replaced by the "Quaternary Silver Alloy". The Quaternary Silver coins were issued from 1940 . In 1947 these were replaced by pure Nickel coins . </P> <P> Immediately after independence, the British coinage was continued . The Monetary System remained unchanged at One Rupee consisting of 64 pice, or 192 pies . </P> <P> The "Anna Series" was introduced on 15 August 1950 . This was the first coinage of the Republic of India . The King's Portrait was replaced by the Ashoka's Lion Capital . A corn sheaf replaced the Tiger on the one Rupee coin . The monetary system was retained with one Rupee consisting of 16 Annas . The 1955 Indian Coinage (Amendment) Act, that came into force with effect from 1 April 1957, introduced a "Decimal series". The rupee was now divided into 100' Paisa' instead of 16 Annas or 64 Pice . The "Naye Paise" coins were minted in the denominations of 1, 2, 5, 10, 20 and 50 Naye Paise . Both the Anna series and the Naye Paise coins were valid for some time . From 1968 onward, the new coins were called just Paise instead of Naye Paise because they were no more naye = new . </P>

For the first time in india the rupees was developed in the year