400 Rupees (Sri Guru Tegh Bahadur Ji) – India
Non-circulating coins
Commemoration: 400th Birth Anniversary of Sri Guru Tegh Bahadur Ji
India
Material
References
KM: #Click to copy to clipboard532
Numista: #290030
Value
Exchange value: 400 INR = $4.40
Bullion value: $49.69
Inflation-adjusted value: 499.91 INR
Obverse
Description:
The obverse features the Ashoka Pillar Lion Capital with "सत्यमेव जयते" below, "भारत" and "INDIA" on the left and right peripheries. The Rupee symbol "₹" and denomination "400" are inscribed below the capital.
Inscription:
भारत * INDIA
सत्यमेव जयते
₹ 400
सत्यमेव जयते
₹ 400
Translation:
Truth Alone Triumphs
₹ 400
₹ 400
Scripts: Devanagari, Latin
Reverse
Description:
The central image is the Gurudwara Guru Ka Mahal, Amritsar, flanked by two swords. Above it is the Punjabi text “ਪ੍ਰਗਟ ਭਏ ਗੁਰੂ ਤੇਗ ਬਹਾਦਰ ਸਗਲ ਹਸਿ੍ਸਟ ਪ੍ੈ ਢਾਪ੍ੀ ਚਾਦਰ”. Below is a ribbon with “400 ਸਾਲਾ ਪ੍ਰਕਾਸ਼ ਗੁਰੂਪ੍ੁਰਬ ਸ਼ਰੀ ਗੁਰੂ ਤੇਗ ਬਹਾਦਰ ਜੀ”, and beside it is “ਗੁਰੂਦਆੁ ਰਾ ਗੁਰ ੂ ਕੇ ਹਹਲ ਸ਼ਰੀ ਅਹਮਰਤਸਰ”. The upper periphery bears the Hindi inscription “श्री गुरु तेग बहािर िी का 400 िर्षीय प्रकाि गुरुपिि”, and the lower periphery has the English “400TH BIRTH ANNIVERSARY OF SRI GURU TEGH BAHADUR JI”. The years “1621-2021” appear below the gurudwara image.
Inscription:
श्री गुरु तेग बहादुर जी का 400 वर्षीय प्रकाश गुरुपर्व
400TH BIRTH ANNIVERSARY OF SRI GURU TEGH BAHADUR JI
400TH BIRTH ANNIVERSARY OF SRI GURU TEGH BAHADUR JI
Translation:
400th Birth Anniversary of Sri Guru Tegh Bahadur Ji
Scripts: Devanagari, Latin
Language: Hindi
Edge
Milled with 200 Serrations
Mints
| Name | Mark |
|---|---|
| Mumbai / Bombay | ♦ |
| Mumbai / Bombay | M |
Historical background
In 2021, India's currency situation was characterized by a cautious recovery and significant policy support in the wake of the COVID-19 pandemic's severe economic shock. The Indian Rupee (INR) remained relatively stable, trading in a narrow range of roughly 73 to 75 against the US Dollar for much of the year. This stability was actively managed by the Reserve Bank of India (RBI), which built up substantial foreign exchange reserves, crossing the $600 billion mark, to buffer against global volatility and maintain export competitiveness. However, the rupee faced underlying pressures from high global commodity prices and persistent inflation, which limited the central bank's ability to deploy more aggressive monetary stimulus.
The broader financial landscape was shaped by the government and RBI's dual focus on stimulating growth while managing inflation. The RBI maintained an accommodative monetary policy stance throughout the year, keeping repo rates at historic lows of 4% to support credit flow and economic revival. This liquidity infusion, coupled with continued fiscal spending, aimed to bolster consumption and investment. Nevertheless, rising consumer price inflation, often breaching the RBI's upper tolerance band of 6%, emerged as a key concern, driven by supply chain disruptions and elevated fuel costs.
A defining feature of 2021 was the accelerated push towards digital currency and financial formalization. The year saw a dramatic rise in digital payments through the Unified Payments Interface (UPI), cementing India's transition towards a less-cash economy. Furthermore, the government announced plans to introduce a Central Bank Digital Currency (CBDC), laying the groundwork for a digital rupee. This period also witnessed the continuation of efforts to manage bad loans in the banking sector, with the creation of a National Asset Reconstruction Company to address stressed assets, aiming to improve the health of the financial system crucial for sustainable currency stability.
The broader financial landscape was shaped by the government and RBI's dual focus on stimulating growth while managing inflation. The RBI maintained an accommodative monetary policy stance throughout the year, keeping repo rates at historic lows of 4% to support credit flow and economic revival. This liquidity infusion, coupled with continued fiscal spending, aimed to bolster consumption and investment. Nevertheless, rising consumer price inflation, often breaching the RBI's upper tolerance band of 6%, emerged as a key concern, driven by supply chain disruptions and elevated fuel costs.
A defining feature of 2021 was the accelerated push towards digital currency and financial formalization. The year saw a dramatic rise in digital payments through the Unified Payments Interface (UPI), cementing India's transition towards a less-cash economy. Furthermore, the government announced plans to introduce a Central Bank Digital Currency (CBDC), laying the groundwork for a digital rupee. This period also witnessed the continuation of efforts to manage bad loans in the banking sector, with the creation of a National Asset Reconstruction Company to address stressed assets, aiming to improve the health of the financial system crucial for sustainable currency stability.
⭐ Rare