In a major development, Finance Ministry on Tuesday issued a notification about the introduction of Rs 100 coin.
According to sources the Rs 100 coin will be introduced to commemorate the birth centenary of Dr MG Ramachandran.
According to reports that along with Rs 100, Rs 5 coin will also be issued by the government.
As per the report, the coins will bear MGR’s portrait in the centre along with the inscription ‘DR M G Ramachandran Birth Centenary’ on the lower periphery.
The notification said that the year ‘1917-2017’ will be flanked below the portrait of Dr M G Ramachandran.
The coins will also bear the Lion Capital of Ashoka Pillar in the centre with the inscription ‘Satyamev Jayte’ on the obverse side.
The Rs 100 coin will weigh around 35 grams, while Rs 5 coins will weigh 6 grams.
The new Rs 100 coin will be made of silver (50 per cent), copper (40 per cent), nickel (5 per cent) and zinc (5 percent), while Rs 5 coin will be made of copper (75 per cent), zinc (20 per cent) and nickel (5 per cent).
‘MGR’, was the founder of AIADMK party, currently ruling in Tamil Nadu.
A film actor and a three-time Chief Minister, he was awarded the Bharat Ratna in the year 1988.