Information and Broadcasting Minister Ambika Soni said that :
It's a big statement on the Indian currency... The symbol would lend a distinctive character and identity to the currency and further highlight the strength and global face of the Indian economy.
Though the symbol will not be printed or embossed on currency notes or coins, it would be included in the 'Unicode Standard' and major scripts of the world to ensure that it is easily displayed and printed in the electronic and print media.
Among currencies with distinctive identities, only the pound sterling has its symbol printed on the notes.
Unicode is an international standard that allows text data to be interchanged globally without conflict. After incorporation in the global and Indian codes, the symbol would be used by all individuals and entities within and outside the country.
The symbol will be adopted in a span of six months in the country, and within 18 to 24 months globally, Soni said, adding that it will feature on computer keyboards and softwares for worldwide use.
Kumar is awarded 2.5 lakh rupees and he happily told that
The symbol is a perfect blend of Indian and Roman letters — capital 'R' and Devanagri 'Ra' which represents rupaiah, to appeal to international and Indian audiences and the design is based on the tricolour, with two lines at the top and white space in between.