Currency notes in India began with the arrival of the main note, a Two Hundred and Fifty Sicca Rupees note, by the Bank of Bengal on September 3, 1812. Lord George VI had supplanted the local plans on banknotes and coins. Be that as it may, after the revolt of 1857, he made the Rupee as the official cash of pioneer India. In 1862, old Indian notes were given with the Victoria representation to the respect of Queen Victoria. In the year 1935, the Reserve Bank of India was set up. It engaged the Government of India to give banknotes of India. In January 1938, a 5 rupee note bearing King George VI's picture was the principal paper cash given by RBI.
English India Issues start with the Paper Currency Act of 1861 which gave the Government the imposing business model of note issue in India. The administration of paper money over the geological breadth of the Indian sub-landmass was an errand of extensive extents. At first, the Presidency Banks were delegated as operators to advance the flow of these notes in perspective on their current foundation. The Act of 1861 approved the Presidency Banks to go into concurrences with the Secretary of State for turning out to be specialists for the issue, installment, and trade of promissory notes of the Government of India. The issue of reclamation of these notes over huge regions of the Indian sub-landmass prompted the idea of 'Cash Circles', where these notes were lawful delicate.
In 1947, when India picked up autonomy, India's cutting edge Rupee returned to the structure of mark Rupee coin. All pre-autonomy banknotes were formally demonetized with impact from 28 April 1957. The image of the Lion Capital at Sarnath supplanted the George VI arrangement of old notes of India. 1 rupee note was the main banknote printed by Independent India.
In 1969, the Reserve Bank of India gave the Mahatma Gandhi Birth Centenary Commemorative plan arrangement on Rs 5 and Rs 10 notes. With this all the rare currency notes of India were wiped out and many new and commemorative notes were launched. Such as the special issue of rupees ten and Rupees One Hundred, in 1959, for the Indian Haj Pilgrims.
To read more about the history of Indian notes and various rare notes of India visit Mintage World. A one stop encyclopedia for all notes and coins.
English India Issues start with the Paper Currency Act of 1861 which gave the Government the imposing business model of note issue in India. The administration of paper money over the geological breadth of the Indian sub-landmass was an errand of extensive extents. At first, the Presidency Banks were delegated as operators to advance the flow of these notes in perspective on their current foundation. The Act of 1861 approved the Presidency Banks to go into concurrences with the Secretary of State for turning out to be specialists for the issue, installment, and trade of promissory notes of the Government of India. The issue of reclamation of these notes over huge regions of the Indian sub-landmass prompted the idea of 'Cash Circles', where these notes were lawful delicate.
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| Image Courtesy: www.mintageworld.com |
In 1969, the Reserve Bank of India gave the Mahatma Gandhi Birth Centenary Commemorative plan arrangement on Rs 5 and Rs 10 notes. With this all the rare currency notes of India were wiped out and many new and commemorative notes were launched. Such as the special issue of rupees ten and Rupees One Hundred, in 1959, for the Indian Haj Pilgrims.
To read more about the history of Indian notes and various rare notes of India visit Mintage World. A one stop encyclopedia for all notes and coins.
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