125 Rupees 125th Birth Anniversary Year of Netaji Subhas Chandra Bose

This coin was issued to mark the 125th birth anniversary of Subhas Chandra Bose, born January 23, 1897 — a date the Indian government officially designated "Parakram Diwas" (Courage Day) beginning in 2021. Bose remains a genuinely contested figure in Indian national memory: founder of the Indian National Army, wartime collaborator with both Nazi Germany and Imperial Japan, and simultaneously a hero to millions who viewed armed resistance as the only credible path to independence.

The .500 fineness is characteristic of modern Indian commemorative silver issues, which have consistently used below-sterling alloy since the commemorative program expanded in the 1990s.