While, the process has been in the pipeline for the past many months now, but people close to the development are of a view that the Indian rupee is likely to get its own unique symbol in the coming few days.

In fact, it has been learned that the Union Cabinet is set to approve the final design with which the Indian rupee will join the league of global currencies like US dollar ($), British pound sterling (£), euro and Japanese yen (¥), that already sport their unique symbols in the global markets.

It has also been learned that the shortlisted design apparently plays on the Hindi letter ‘R’ with a double-slash.

While the Indian government has already shortlisted five entries after a pan-India open contest, the winner will have to surrender the design copyright in lieu of Rs 2.5 lakh and it will eventually become the property of the Government of India.

Notably, after the government will finalise its design, it will have to incorporated on the rupee note as well that will require a large scale investment by the foreign parties that print Indian currency.