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!  

Tips for Collecting Rare Banknotes of India and Enhancing Knowledge

There is a large community of people who are crazy about collecting Indian banknotes. Some are interested in rare banknotes while others look for notes with fancy serial numbers. No matter where your speciality or expertise lies, there is a lot to learn through the study of old currency banknotes.

We have reached a stage where countries are now producing polymer notes, but do you know how  early banknotes of India were made? Most of these notes were made using handmade white paper, due to which it is very difficult to find early banknotes in extremely good condition.

The East India Company had made different territories in the Indian subcontinent namely, Bombay Presidency, Madras Presidency and Bengal Presidency for administrative purposes. Private and semi-government banks such as Bank of Hindostan, issued Indian presidency banknotes that were circulated only within these specific territories. Some of these early banknotes come in unique denominations such as 8 rupees, 16 rupees, 5000 rupees and more. Many of them had designs only on one side. If you have any one of these rare banknotes in your collection, you can make a lot of money by auctioning them. The unique calligraphy and designs on these old banknotes of India make them even more precious.

It is very important to take care of these early banknotes by using quality banknote albums as they are very delicate. Only if you maintain the condition of your notes, will you be able to fetch good returns in the future.  Apart from that, join as many online and offline communities who are into collecting early Indian banknotes. This way, you will get to know about the historical significance of certain unique banknotes of India.

Knowledge is everything in this hobby. If you don’t keep researching, dealers and sellers might try fooling you by selling notes at a much higher value than its actual market value. The best way to increase your knowledge about early banknotes is by reading reference books and catalogues written by famous notaphilists. When you are aware about each variety of Indian banknotes, you will be able to put together a more impressive collection. So, lose yourself into the world of early Indian banknotes and enhance your knowledge along with your collection.