In the US they use a penny to see if Lincoln's head is a bit covered or not. If the head is clearly visible then the "tire" needs replacement. This is an old informal system that works well there. I think the one rupee coin thing is an imported and Indianised concept from this original US concept. It's always easier to look at the sign in the tyre itself than to bend down take a coin out etc etc. Cheers
In tyres with no wear indicator, how can we make out that it's time to change the tyre ?
In some bike tyres, I couldn't find any wear indicator !
I'am not sure about the bikes, but in cars, as informed before, you can take what the patchyboy has written. This is recommended by tyre manufacturers.