Issued to mark the 50th anniversary of the Oil and Natural Gas Corporation, which was established in 1956 as a government commission before being restructured into a statutory body and later a public sector undertaking. ONGC's founding was directly tied to India's post-independence drive to reduce dependence on foreign oil majors, several of which had controlled exploration rights during the colonial period. The commemorative 5 rupee denomination was a common vehicle for Indian state anniversaries during this decade, with the Kolkata and Mumbai mints both producing circulation-quality strikes.
Issued to mark the 50th anniversary of the Oil and Natural Gas Corporation, which was established in 1956 as a government commission before being restructured into a statutory body and later a public sector undertaking. ONGC's founding was directly tied to India's post-independence drive to reduce dependence on foreign oil majors, several of which had controlled exploration rights during the colonial period. The commemorative 5 rupee denomination was a common vehicle for Indian state anniversaries during this decade, with the Kolkata and Mumbai mints both producing circulation-quality strikes.