Udaya Kumar Dharmalingam of Department of Design at IIT Guwahati, Assam designed the Indian rupee sign. The symbol is designed using the Devanagari letter र 'Ra' and Roman capital letter 'R'. The letters are derived from the word Rupiah in Hindi and Rupees in English, so the symbol is meaningful to both Indians and international users. The symbol also uses the Shiro Rekha, the horizontal top line which is unique to Indian Devanagari script. The two horizontal lines form an "equals" sign, which also evokes the tri-color Indian flag. The new rupee symbol was approved on 15 July 2010. Udaya Kumar was awarded prize money of ₹250,000 for his design.