Re. 1/- Only. We don't get to see this price tag anywhere today. A single rupee seems to have no value at all. We cannot buy a lot of stuff with it. Even a beggar on the street demands at least 5 bucks and tea on the side.

It's the safest and the surest form of currency.

It is the basic currency. It is guaranteed by the government itself. Take out any bank note from your pocket. Right at the front, it says "I PROMISE TO PAY THE BEARER THE SUM OF X RUPEES" and is signed by the Governor of RBI.

If ever you do wish to redeem this 'promise' and you go ask Raghuram Rajan for your payment, he can actually give you a bunch of Re. 1 notes. Because it's the token currency. Even if all currency fails, it is this pretty crisp colourful paper which will hold all the power.

Source: Kashmir Monitor

We can't really get much for a rupee anymore. Today's society, with inflated incomes and increasing nonchalance towards the little denominations, re-releasing the one rupee note may not really cause any real excitement.