1 Rupee

The shift to copper-nickel for the Indian rupee in the mid-1970s came directly out of the global silver shortage that had been eroding the economics of coin production since the 1960s. India had already debased through multiple compositions in the preceding decades, and this alloy represented the government's attempt at a stable, cost-effective solution for a denomination that bore the heaviest circulation burden in the country's monetary system.

KM#78 encompasses a span of issues that saw India through the Emergency period declared by Indira Gandhi in 1975 and its turbulent political aftermath.