Naya paisa or (Naye Paisa - the plural form) describes India's lowest denomination currency after it converted to the decimal system. Immdiately after independence, the currency was denominated in rupee, anna, and the paisa. Subsequently when India changed over to the decimal system of currency, the currency became Rupee and paisa. 100 paise (plural for paisa) made one rupee.
As this paise was new and there was already an existing old paisa in circulation, the new paisa was prefixed with the word naya. Naya in Hindi means "new". The prefix is no more used.
However, in the Bengali and Assamese languages, spoken in Assam, Tripura, and West Bengal, the Rupee is known as a Taka, and is written as such on Indian banknotes
The Indian Rupee is subdivided into 100 paise (singular paisa).
The first "rupee" is believed to be introduced by Sher Shah Suri (1486-1545), based on a ratio of 40 copper-coin pieces (paisa) per rupee.
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