Naya paisa
Indian paisa (plural: paise) is 1⁄100 (one-hundredth) subdivision of the Indian rupee. The paisa was first introduced on 1 April 1957 after decimalisation of the Indian rupee. As of 30 June 2011, except for 50 paisa coins, all other paisa coins had been demonetized.
In 1955, the Government of India first amended the "Indian Coinage Act" and adopted the "metric system for coinage". From 1957 to 1964, the Paisa was called "Naya Paisa" (New Paisa) and on 1 June 1964, the term "Naya" was dropped and the denomination was named "Paisa". Paisa has been issued in 1, 2, 3, 5, 10, 20, 25 and 50 paisa coins.
Prior to 1957, Indian rupee was not decimalised and the rupee from 1835 to 1957 was further divided into 16 annas. Each anna was further divided to four Indian pices and each pice into three Indian pies till 1947 when the pie was demonetized.
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