Complex sentence: In 1957, the rupee was decimalised and divided into 100 "naye paise" (Hindi for "new paise"); in 1964, the initial "naye" was dropped.
Split into simpler sentences: In 1957, decimalisation occurred and the rupee was divided into 100 "naye paise" (Hindi for "new paise"). In 1964, the initial "naye" was dropped.