The legal tender in India is the Rupee. India adopted a decimal monetary system in 1957, when One Rupee was deemed to consist of 100 Paise (singular Paisa). The management of note issue is the responsibility of the Reserve Bank of India, which is the central bank of the country. Responsibility for matters pertaining to coinage vest with the Government of India.

Coins are issued in denominations of Ten Paise, Twenty Five Paise, Fifty Paisa, Rupee One, Rupees Two and Rupees Five. Presently notes are issued in denominations of Rupees Five, Rupees Ten, Rupees Twenty, Rupees Fifty, Rupees Hundred, Rupees Five Hundred and Rupees One Thousand. While notes of Rupee One and Rupees Two are still in circulation, these denominations have been coinised and no new notes are being issued.