What is InterNIC, I have heard about it?

InterNIC was the agency which was the sole authority for registration of domain names ending with .com, .net, .org, .edu, .mil, and .gov. Now Apart from InterNIC more registrars have been authorized to register domains ending with .com, .net, .org, now the monopoly of Internic is no more and there has been a lot of competition among different registrar. InterNIC used to charge US$70 for 2 yrs. Domain Registration Services whereas different registrars have different pricing. We have an extremely economical charge of Rs.450 per year. 
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