according to some historians, sheer shah sure
introduced the Indian currency or rupee in
the 16th century. attainment, 40 copper coins
equaled one rupee. the dominance of the mughals
over India started diminishing when the British
arrived in the count. in the turmoil that accompanied
the arrivalof the british,local bankers lost their
importance to 'agency houses' that enjoyed state
patronage. one such agency house that enjoyed state patronage such agency house established the Bank of Hindustan that issued the earliest rupee notes in the year 1770. The was followed by some more issues of the Bank notes by private banks. for 100 add years,the issue of bank notes by the private bank continued. In 1861 the paper currency Act was passed the issued of note was now the sole right of the government of Brities India.
the first series of note that wassuedbythe government of British India was the Victoria portrait series. the need to issue notes of small denominations arose with the beginning of the world war i,and the rupee 1 note was issued for the first time.
in 1923,the king's portrait series was issued. these notes continued to be used till 1935. the reserve bank of india then took over the authority to print and circulate banknotes from the government of india.
currency notes with the portrait of George vi were in circulation till 1947 when India become independent. after that, the India rupee was adopted as a sale currency of the country, and the use of all other domestic coinage was put to an end. the country adopted the decimalization standards in the year 1957. the currency mahatma Gandhi's portrait series was introduced in the year 1996.
introduced the Indian currency or rupee in
equaled one rupee. the dominance of the mughals
over India started diminishing when the British
arrived in the count. in the turmoil that accompanied
the arrivalof the british,local bankers lost their
importance to 'agency houses' that enjoyed state
patronage. one such agency house that enjoyed state patronage such agency house established the Bank of Hindustan that issued the earliest rupee notes in the year 1770. The was followed by some more issues of the Bank notes by private banks. for 100 add years,the issue of bank notes by the private bank continued. In 1861 the paper currency Act was passed the issued of note was now the sole right of the government of Brities India.the first series of note that wassuedbythe government of British India was the Victoria portrait series. the need to issue notes of small denominations arose with the beginning of the world war i,and the rupee 1 note was issued for the first time.
in 1923,the king's portrait series was issued. these notes continued to be used till 1935. the reserve bank of india then took over the authority to print and circulate banknotes from the government of india.
currency notes with the portrait of George vi were in circulation till 1947 when India become independent. after that, the India rupee was adopted as a sale currency of the country, and the use of all other domestic coinage was put to an end. the country adopted the decimalization standards in the year 1957. the currency mahatma Gandhi's portrait series was introduced in the year 1996.
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