The definitive guide to South Asian lingo

Definition 1 of 1

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Noun.
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Definition

term given to a unit of indian coinage. in September, 1955 the Indian Coinage Act was amended for the country to adopt a metric system for coinage. The Act came into force with effect from 1st April, 1957. The rupee remained unchanged in value and nomenclature. It, however, was now divided into 100 'Paisa' instead of 16 Annas or 64 Pice. For public recognition, the new decimal Paisa was termed 'Naya Paisa' till 1st June, 1964 when the term 'Naya' was dropped.
"Older people" in India still refer to a tiny unit of the ruppess as a naya paise when complaining about inflation , corruption or bad interest rates. Referred to as naye or naya paise.

Usage

Tell that good for nothing cousin of yours that i will not leave him a naye paise in my will if he does not come for ayudha pooja.
Added 2011-10-11 by porkipaya

Root

English

Region

All India

Categories

Money & Business

Related Terms

Paisa vasool, rupaiya, Rupee, ana