Indian currency is as historic as the Indian civilization. This history of coins and notes is as interesting as it is long.
Historic facts of Indian currency:
1. The one rupee note was the first banknote printed by independent India.
2. 10,000 rupees is the highest denomination RBI has printed in its history. 1,000 rupees and 10,000 rupees notes were in circulation between 1938 and 1946 but were eventually demonetised.
3. Paper money was first issued in the late eighteenth century. Bank of Hindostan, General Bank in Bengal and the Bengal Bank are the first banks to have issued paper currency.
4. Denominations of 1 paise, 2 paise, 3 paise, 5 paise, 10 paise, 20 paise and 25 paise were in circulation till June 30, 2011 but were then withdrawn.
5. The Reserve Bank of India was formally inaugurated in 1935 and was empowered to issue Government of India notes.
6. 1,000 rupees, 5,000 rupees and 10,000 rupees notes were reintroduced in 1954 and demonetized in 1978.
7. After Independence, Pakistan used Indian Rupee notes stamped with ‘Pakistan’ until it could print enough.
8. One rupee notes are issued by the Ministry of Finance and bear the signature of the Secretary.
9. Our Indian currency have Braille signs to help the visually challenged, which gives hope to the blind –identify currency note. There were identification mark’s on the left side of banknote, which have different shapes for 1000, 500, 100, 50, 20 and 10 as Diamond, Circle, Triangle, Square, Rectangle and None respectively.
10. In 2010 Indian rupee symbol was adopted. D.Udaya Kumar is the creator of the rupee symbol. The symbol was derived from Devanagari letter “र” (ra). The symbol is a combination of the Latin letter “R” and Devanagari letter “र”. The parallel line in the symbol is given to make it look like tricolor of Indian national flag.
Historic tour of Indian currency notes:
Mr. PM Narendra Modi’s Historic move to stop corruption in INDIA
Rs. 500 and Rs 1000 old currency notes will no longer be legal tender as of 08th November 2016
Your questions- RBI’s Answers!! Why ₹500 and ₹1000 notes banned??