In 1957, the rupee was decimalized and divided into 100 naye paise (Hindi for “new paise”); in 1964, the initial naye was dropped.
Many still refer to 25-, 50- and 75-paise coins as 4, 8, and 12 annas, respectively; compare the expression “two bits” in colloquial American English for a quarter-dollar coin.
The values of the subdivisions of the rupee during British rule (and in the first decade of independence) were:
