Understanding Indian Notes and their Broad Categories

There are so many varieties of Indian notes that it sometimes gets very difficult to study them. The best way to analyse the history of Indian notes is by doing your research category-wise. Notes of India are broadly classified into five categories. Let’s understand each one today.

Early Indian Banknotes

The East India Company issued currency notes in India for three different presidencies namely, Bengal Presidency, Bombay Presidency and Madras Presidency. These notes were issued by semi-government banks as well as private banks. The Bank of Hindostan was the oldest bank of India which issued Indian notes from 1770 to 1832.

British India Notes

After the revolt of 1857, India directly fell under the authority of British Crown. Old notes of India issued after this time period were known as British India Notes. Initially, uniface notes featuring a portrait of Queen Victoria were issued. Banknotes depicting a portrait if King George V and King George VI were also issued later.

Princely State Issues

Only one princely state has issued currency notes of India, and that is Hyderabad. These banknotes depicted beautiful designs and Persian texts. Notes in denominations such as 1 rupee, 5 rupees, 10 rupees, 100 rupees, 500 rupees and 1000 rupees were issued by Hyderabad. Collectors are always keen on acquiring examples of these amazing princely state issues.  
 Colonial Notes

Apart from Britain, several parts of the Indian subcontinent were colonised by other European powers such as the Dutch, French, Portugal and Danes. Rare notes of India issued by these Governments fall under this category. These wonderful banknotes of India were circulated only within a particular territory.  

Republic India Notes

Notes of India issued after independence are known as Republic India notes. Today, the Reserve Bank of India issues banknotes of denominations such as 5 rupees, 10 rupees, 20 rupees, 50 rupees, 100 rupees, 500 rupees and 2000 rupees. 1 rupee notes are issued by the Government of India.


 If you are interested in collecting Indian Notes, then it is important to understand these broad categories first. Once you start reading about the history of Indian banknotes, you will start enjoying your hobby even more!