Varanasi — Union Finance Minister Nirmala Sitharaman on Tuesday released a ₹250 commemorative coin to mark the 250th birth anniversary of Carnatic music maestro Muthuswamy Dikshithar at Banaras Hindu University (BHU) in Varanasi. The coin is a collector's item and not meant for everyday transactions.
The Event
The coin was released at Swatantrata Bhavan at IIT-BHU, at a programme organised under the institute's Centre of Excellence for Indian Knowledge Systems, according to a statement issued by the institute. Before the event, Sitharaman paid floral tributes to the statue of Pandit Madan Mohan Malaviya, the founder of BHU. She recalled Dikshithar's contribution to Indian classical music and cultural heritage, and interacted with IIT-BHU students, taking on the role of a teacher to explain Indian classical music, musical instruments and their distinctive features, the statement said.
Sitharaman stressed the importance of taking Indian music and heritage to the younger generation. "It is important to familiarise children with India's rich cultural traditions and heritage from an early age, as this helps develop their interest in understanding their cultural identity," she said.
The release was followed by a veena recital by Ramana Balachandhran, accompanied by Ganapatiraman on the mridangam and L. Ramakrishnan on the violin.
According to reporting, the coin weighs 35 grams and is made of 50 percent silver, 40 percent copper, 5 percent nickel and 5 percent zinc. It was minted at the India Government Mint in Mumbai and issued by the Reserve Bank of India, an IIT-BHU spokesperson, Utkarsh Srivastava, said. Such coins are minted in limited quantities and collected as memorabilia rather than used for regular transactions. According to the government mint's website, the coin was listed at ₹6,985, with 238 pieces in stock on Tuesday evening.
About Muthuswamy Dikshithar
Dikshithar is regarded as one of the pillars of Carnatic music and is believed to have composed around 450 to 500 works, many of which continue to be performed at classical concerts. He spent a considerable period in Varanasi, where he composed several works dedicated to temples and Hindu deities, which is the stated reason for holding the coin release at BHU.
Currency, coinage and legal tender are matters on the Union List of the Constitution (Entry 36), and coins are issued under the Coinage Act, 2011, which empowers the central government to decide their denominations, designs and metal composition. Commemorative coins are minted by the government's mints and sold to the public as collectibles; a ₹250 piece of this kind carries a face value but trades at a higher price reflecting its metal and limited issue, which is why its sale price, ₹6,985, differs from its denomination.
