2 Naye Paise

The "Naye Paise" designation — meaning "new paise" in Hindi — was introduced in 1957 when India decimalized its currency, replacing the old anna-based system that had persisted through British colonial rule. The transition required an entirely new coinage infrastructure, and the Government of India Mint produced these earliest decimal issues simultaneously across the Bombay, Calcutta, and Madras facilities. By 1964, the word "Naye" was quietly dropped; the novelty of decimal coinage had worn off, and the qualifier was no longer considered necessary.