INDIA - ECONOMY - CURRENCY Indian Coinage April 01, 1957:   In September, 1955 the Indian Coinage Act was amended for the country to adopt a metric system for coinage. The amended Indian Coinage Act came into force with effect from this day. The rupee remained unchanged in value and nomenclature. It, however, was now divided into 100 'paisa' instead of 16 annas or 64 pice.