New symbol for Indian rupee

Cabinet approves new symbol for Indian rupee
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The Indian rupee will have a new symbol. This has been approved by a cabinet meeting chaired by Prime Minister Dr Manmohan Singh in New Delhi this morning. Briefing newspersons, the Information and Broadcasting Minister Ambika Soni said, the new symbol will be used by all individuals and entities within and outside India after itsincorporation in unicode standard.

It is expected to be in practice within six months inside the country while it may take upto two years for the international acceptance.

Soni said, the State governments will be impressed upon to encourage the use of the new rupee symbol. In another decision, the Union Cabinet today approved the amendment of Arms Act 1959.

The proposed amendments will obviate chances of issuing arms licenses to those whose antecedents are not bona fide. It will also ensure receipt of police verification report within a period of 60 days.

The Cabinet also approved the introduction of the Arms Amendment Bill 2010 in the Parliament. In another decision, the Cabinet approved acquisition of the State Bank of Indore by State Bank of India. A bill to this effect will be tabled in coming session of Parliament.

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