Curious Case of The One Rupee: Why It’s in Your ‘Shagun’ Envelope

The Reserve Bank Of India has put one rupee notes back in circulation. But had they ever gone?

As uncommon as it may be, sometimes tradition and banking do come together, making for a delightful page in the book of economic anthropology.

The Reserve Bank Of India plans to put one rupee notes back in circulation, after a gap of 21 years. Printing of Re 1 note was stopped in November 1994 due to the high cost of printing and to free printing capacity for currency notes of higher denomination.

Auspicious

But rupee one was never gone – it was always part of every shagun at every domestic ritual, big or small - sharing space with the bigger 100, 500, and 1,000 rupee notes. Also contributing to the design of the now fashionable shagun envelope.

Money as a token gift, is a must do at most occasions, and it is considered auspicious for the amount gifted, to end in one. It is a blessing for some, and the beginning of a new stage of life for others.

Indivisible

The Guardian reports that because the number one is indivisible, it is seen as a befittingly permanent blessing for the person receiving the shagun.

The ‘Debt’ of Continuity

Another theory goes - an amount that ends in zero suggests the end of a transaction. But the additional rupee connotes continuity and the hope of future exchanges. Here’s how - the lone rupee is a symbolic sign of debt to the receiver. On future social and religious occasions the receiver is expected to attend and return the shagun, complete with the outstanding Rs 1 ‘loan’.

Good Karma or Seed Money

Another tale is that the while the bigger amount of the shagun, (i.e. the 500 rupees in a Rs 501 shagun) is for spending, the additional rupee is to be wisely invested, or given in charity, to attract more wealth, or good karma – whatever your priorities are.

But The Coin Stays Too

While the one rupee notes may make a comeback, make no mistake that the rupee coins too are here to stay. Metal, or dhatu comes from the earth and is a form of Lakshmi. And it has always been considered very auspicious to slip in some ‘metal’ rather than ‘paper’ in this game of shagun exchanges.