INDIA PRESIDENCY BANK NOTES

☆Bank of Madras☆

☆ Issuer: Bank of Madras 

☆ Date of Issue: 17th July 1849
☆ Signatory: Robert Hunter
☆ Serial No Style: Type A has space between No. and serial number with (Bell MT) Font
☆ Size: 195mm x 120mm
☆ Printer: Perkins, Bacons & Petch, London
☆Watermark: Bank of Madras in English/ Tamil script with double angular continuous border.

☆Obverse☆

Vignette of statue of sir Thomas Munro, Governor of Madras (1819-1827) at the centre, BANK OF MADRAS in semicircle above vignette in top centre panel , bank of madras in English, Persian, Telugu and Tamil on either of top panel, Numeric 10 in all four corner inside oval motif in four corners clockwise Arabic, English, Tamil and Telugu, Serial No below top panel in Type A format on right and left of centre panel , promissory text in centre panel with three digit printed date 184X format below promissory text on either side MADRAS in between the date. manuscript signature for the Bank of Madras by Secy. & Treasurer on right end of centre pane and manuscript signature Entd by accountant on left side above denomination in words TEN inside panel box. Perkins, Bacons & Petch, London patent hardened steel plate. Denomination in words Tamil/ Persian / Telugu / English in lower panel on either side separated by floral motif in centre

☆Reverse: Bank of Madras / Denomination in words TEN

☆Promissory Text☆ Promise to Pay the bearer on demand “Denomination in words”value received.

☆☆Special Note☆☆: Cancel blue stamp on obverse on either side of notes and two different notes with different serial number joined to together

☆☆About Bank of Madras☆☆

BANK OF MADRAS was established on 1 July 1843 and headquartered in the City of Madras. The Bank was formed as a joint stock company with a capital of Rupees 3 Million by the amalgamation of ‘The British Bank of Madras’ (1775), ‘Carnatic Bank’ (1788), ‘Asiatic Bank’ (1804) and ‘Madras Government Bank’ (1806).

BANK OF MADRAS started issuing banknotes on the same day of its incorporation. Compared to other two presidency banks, this bank issued least number of notes. Total number of notes issued by Bank of Madras from 1843 to 1861 was around 110,000, whereas Bank of Bombay issued more than 125,000 notes of just one type of 10 Rupees notes during that same period. Due to limited quantity of supply and smaller region of circulation, the notes issued by Bank of Madras are fundamentally rarer than those by other presidency banks.

Around 50,000 notes out of total issue of about 110,000 were issued in the first year of operations itself. The reason was to facilitate the replacement of banknotes issued by ‘Madras Government Bank’ with a deadline to exchange with newly issued Bank of Madras notes, on or before 31st January 1845.

☆☆About Signatory☆☆

Robert Hunter (5 November 1845–1860): Formerly a bill broker and a partner of Hunter Macgregor & co, a bankrupt firm, he became third Secretary & Treasurer of the Bank of Madras. He served this position for nearly 15 years. Due to his longer tenure, he has signed all denominations issued by the bank. Close observation of the notes reveals that he has not signed any notes in his first 4 years of holding this position. The earliest and last notes found with his signature are 10 April 1849 and 12th May 1860, respectively. He was from Calcutta.

(Article Courtesy and image Mr.Kedar)

☆References ☆
- IBNS Journal issue 56.2 article issued by Mr. Ramkumar

INDIA BURMA ISSUES (1935 -1950)

Indian currency notes were used for first time in a separate country in 1935. In that year, the Government of India Act 1935 was formed, separating the territory of Burma  from the administration of the Government of India.

Legal Tender in Burma Issues (1937)-KG V

5, 10 Rupees and 100 Rupees notes with the picture of King George V were overprinted "Legal Tender in Burma only" for use exclusively within Burma in 1937. Even though the Government of Burma was separated, the financial administration remained under the Reserve Bank of India. 
The Notes were issued in two varieties with Red Overprint (on the Top) and with Black Overprint (In the center) both obverse and reverse and were signed by JW.Kelly.

Reserve Bank of India ( Burma) Issues (1^st May 1938)- KG -VI

A set of notes were issued in 1938 bearing the picture of King George VI in denominations of 5, 10, 100, 1000 and 10000 Rupees. Issue of these notes was regulated by the Reserve Bank of India, they were classified as Indian Notes but their circulation remained limited to Burma and were signed by JB.Taylor. These are also commonly known as Peacock issues as they carried a picture of peacock on them.

Military Administration of Burma Issues (1^st May 1945) - KG-VI

During the Second World War, Burma was occupied by the Japanese. After it’s liberation in 1944 it was placed under a military administration until 1946. During this period, Indian notes with overprint "Military Administration of Burma / Legal Tender in Burma Only" were used in circulation. These notes are of 1, 5, 10 and 100 Rupees denomination and are signed by CD Deshmukh for 5 -10 -100 Rupees and by JB. Taylor for 5-100 Rupee issues only. 

Burma Currency Board Issues (1^st July 1947) - KG-VI

In 1946, civil government was restored in Burma, and the financial administration was given over to a "Burma Currency Board". This board once again employed the Indian Bank Notes with overprint "Burma Currency Board / Legal Tender in Burma Only" for circulation within Burma. These notes are of 1, 5, 10 and 100 Rupees denomination and are signed by CD.Deshmukh..

The Reserve bank of India closed its operation in Burma in September 1946 and all the notes for Burma issues were withdrawn on 1^st June 1950.

Payment Refused / Altered Notes

Notes with these overprints often reached India where attempts were sometimes made by people to eliminate the overprints and use the note in India. However, when such attempts were discovered, the respective notes were treated as defaced and put out of circulation with the stamp "Burma Notes / Payment Refused".    

FRENCH INDIA BANK NOTES- (1875 -1954)

French Rule of India

The French Ruled India From 1674 to 1954. 

The earliest French East India Company came into India in 1664. In 1664, Jean-Baptiste Colbert, the French Minister of Finance succeeded in establishing the first viable French Company (the French East India Company) during the reign of Louis XIV. The company established its factory at Surat in Western India and acquired a foothold in Southern India by acquiring Pondicherry in 1674. The disintegration of the Mughal Empire and the rivalry of local powers that strove to fill the vacuum, provided fertile ground for the English and the French to precipitate the Anglo-French struggle in India.  

The french colonies  included Mahe (Kerala), Karaikal, Pondicherry (Tamil Nadu), Yanam (Andhra Pradesh) and Chandernagore (West Bengal). 

They were called as "Etablissements Francaises dans L'inde", i.e. French establishments in India. The issue of paper money for the French settlements was entrusted to the Bank Indochine. 

Banque de l'Indochine

The Banque de l'Indochine was founded in 1875, initially with branches in Paris, Saigon, French India and Cochinchina. The bank expanded over the years, to include Tonkin, Haiphong, Phnom Penh and Cambodia, Tahiti and Singapore. A branch was even opened in Djibouti. The Banque de l'Indochine was eventually closed in 1952.

French India Bank Notes 

The Bank issued them under specific decrees. These decrees are denoted on the issued notes. The earliest 'Roupie' denominated notes were issued in 1875. The Roupie consisted of 8 Fanons and one Fanon was equivalent to two annas.. 

The early issues are of two denominations namely 10 and 50 Roupie. Notes of 1 Roupie were issued after World War - I. Notes of 5 Roupies were introduced in 1937. The new design of 50 Roupies issued simultaneously shows the picture of Mousieur Dupleix, the founder of the French Empire in India. 

HYDERABAD INDIA BANK NOTES (1917 - 1953)

                                                         The Flag of Nizam of Hyderabad

Hyderabad State, the largest Indian State & the last remnant of Mughal  legacy in south or central India, traced its foundation to Nizam-ul-Mulk, the Mughal Viceroy in the Deccan. The dynasty was founded by Mir Qamar ud Din Siddique viceroy of the Deccan under the Mughals from 1713 to 1721 and who intermittently ruled under the title Asaf Jah in 1724, and After Auzangazebs death in 1707, the Mughal Empire crumbled and the viceroy in Hyderabad, the young Asaf Jah, declared himself independent.From about 1724, the first Nizam as the rulers of Hyderabad came to be called, took advantage of the Mughal decline in the North to assert an all but ceremonial independence of the emperor.

I	Nizam-ul-Mulk	1724 - 1748
II	Nizam Ali Khan	1762 - 1803
III	Sikander Jah	1803 - 1829
IV	Nasir-ud-Dowla	1829 - 1857
V	Afzal-ud-Dowla	1857 - 1869
VI	Mahboob Ali Pahsa	1869 - 1911
VII	Mir Osman Ali Khan	1911 - 1948

Hyderabad was the only state which had a full fledged paper currency which came into existence in 1916, and enjoyed wide circulation till 1952. The notes were printed till 1939 by Waterlow & Sons, and then onwards by the Security Press at Nasik. The notes are dated in "Fasli" years, an era which was current in the Deccan, associated closely with the Hijri era. The notes are printed entirely in Urdu and other languages which were current in the state, like Kannada, Telgu and Marathi. They are signed by the "Moin-ul-Mulam" or Finance Minister. Sir R.R.Clancy,Sir Akbar Hyderi, Hyder Nawaz Jung, Fakhre-yar Jung,Mehdi Yar Jung,Gulam Mohammad,Liaquat Jung,Zahid hussain are a few of the signatories.

I	Sir RR Clancy	1917 - 1918
II	Fakhr-ud-din Ahmed	1918 - 1920
III	Sir Akbar Hyderi	1920 - 1922
IV	Hyder Nawaz Jung	1922 - 1936
V	Fakhr Yar Jung	1936 - 1938
VI	Mehdi Yar Jung	1939-1941
VII	Fakhr Yar Jung	1941 - 1945

VIII	Ghulam Mohd	1917 - 1918
IX	Liaquat Jung	1945 - 1947
X	Zahid Hussain	1945
XI	Zahid Jung	1945 -1946
XII	Moin Nawaz Jung	1947 - 1948
XIII	D.R.Pradhan	1948 - 1949
XIV	CVS.Rao	1949-1952

XV

Dr.G.S.Melkote

1952

Salavaged Sea notes - Ship S.S. Egypt carrying Hyderabad bank notes of 5 rupees ,10 rupees and 100 rupees denomination sunk off the French coast on May 20th,1922.These notes were later discovered during sea salvage operation by salvage ship "Artigilo'' in 1930, by Italian Crew Societa Ricuperi Marittimi (So.Ri.Ma). These notes are with out signature most of the notes recovered have been destroyed, and few are released to collectors with rubber stamp stating no value. Few notes can be found without the rubber stamp also.

 Below

 1000Rs 1st Issue -Sign- Hyder Nawaz Jung (Issue-1930) Waterlow press - London

HYDERABAD -10RS -1st -Issue 1934 -Waterlow Print -Sign- Hyder Nawaz Jung

Below

1Rs -Sign- Liaquat Jung (Issue- 1945-47)   5Rs &10Rs -Sign- Mehdi Yar Jung (Issue-1939)

Below

1Rs -Sign- CVS.Rao (Issue- 1950)   5Rs -Sign-Gulam Mohd (Issue-1945) 

10Rs-Sign Zahid Hussain Issue 1945)

                            

                       100Rs 2nd Issue -Sign- Mehdi Yar Jung (Issue-1939) Currency Press - Nasik

PORTUGUESE INDIA BANK NOTES (1510–1961 )

Indo Portuguese Notes

HISTORY: 

The Portuguese ruled india from 1510 to 1961.

The territory of Goa in western India was seized in 1510. The Portuguese enjoyed virtual monopoly of trade with India for more than a century till the arrival of the Dutch and the English. They, however, retained the territories of Goa, Daman and Diu till 1961. The first Indo-Portuguese issues of paper currency were the 'Rupia' denominated notes put into circulation around 1883. These notes incorporated the portrait of the King of Portugal. These were issued in denominations of 5,10,20,50,100 and 500. In 1906, 'Banco Nacional Ultramarino' was entrusted with the responsibility of issue of paper money in India for the Portuguese held territories. The early notes issued by the bank carried the seal of the bank. New denominations of 4 Tangas, 8 Tangas and One Rupia and 21/2 Rupias were introduced in 1917. Most issues carried the Commerce and Sailing Ships motifs common to many colonial issues. Indian symbols and motifs (architectural and exotic fauna) were adopted on some notes. Later notes carried the portrait of Afonso De Albuquerque. The monetary system in Goa consisted of the Reis, the Tanga and the Rupia with one Rupia consisting of 16 Tangas.

The 1917 Issues (4 & 8 Tangas) 

The Rupaiah Issue -1945 

All these notes are cancelled by the Banks and are punched its very difficult to see an un punched notes in this series. 

The following denominations was issued 1-5-10-20-50-100 & 500.

 

The Escudo Issue -1959

PAKISTAN OVERPRINT ISSUES

INDIA PAKISTAN OVERPRINT ISSUES

India achieved independence in 1947 followed by it’s partition to create the nation of Pakistan. In the initial phase of it’s existence, the Government of Pakistan employed Indian Notes with a superscription in the watermark window. It contained "Government of Pakistan" in English and "Hukumat e Pakistan" in Urdu. Notes of Rs. 1, 2, 5, 10 and 100 were super inscribed in this way.

These notes were overprinted at the Nasik press and were Legal Tender in Pakistan only these notes were issued in April 1948 and demonetized in 1949 in Pakistan. 

This a rarity from George VI period signed by C. D. Deshmukh. After Independence fro British, under the terms of division of Assets 75 Crores were paid to Pakistan by the Government of India. 20 Crores were paid immediately, after partition in August 1947. Inspite of the aggression in Kashmir by Pakistan in 1948, India honoured its commitment and paid the balance 55 Crores.

The late Chintaman Dwarkanath Deshmukh Popularly called as CD Deshmukh was the first Indian to be the Governor of Reserve Bank of India under the British Raj He was the signatory to these notes. Later on he became the first Finance Minister of Independent India. A trusted and close associate of Jawaharlal Nehru, the architect of Modern & Self Reliant India he was one of the finest economist of the era.

PAYMENT REFUSED / ALTERED NOTES

These Notes were often altered and they were tried to be circulated in India ,such notes were confisticated by the Bank with Payment refused stamp, such as "Altered Note payment refused" ''Pakistan Note payment refused'' etc.

BRITISH INDIA BANK NOTES

The First set of British India notes were the ‘Victoria Portrait’ Series issued in denominations of 10, 20, 50, 100, 1000. These were unifaced, carried four language panels and were printed on hand-moulded paper manufactured at the Laverstock Paper Mills (Portals). The security features incorporated the watermark , the printed signature and the registration of the notes.

The watermark incorporated signatures of LordCanning, The Viceroy and Samuel Laving, the Finance Member. The known notes are issued by the circle of Calcutta (with sub-circles at Allahabad, Lahore and Nagpur), Bombay and Madras. These notes are extremely rare. Their denominations range as 10 Rupees, 20 Rupees, 50 Rupees, 100 Rupees, 500 Rupees and 1,000 Rupees. They bear the signature of the Commissioner of issue. The notes issued at a sub-circle also have an endorsement by the respective subordinate.

.

                                                Rupees Ten- Victoria Series 1863

                                         Rupees One Hundered- Victoria Series 1861 

British India Notes facilitated inter-spatial transfer of funds. As a security precaution, notes were cut in half. One set was sent by post. On confirmation of receipt, the other half was despatched by post.

 

The system of issue through circles and sub-circles was not changed. In fact, many more sub-circles were established. They were:

Circle - ((Sub-Circle)

Bombay - (Akola, Karachi)

Calcutta - (Lahore, Allahabad, Cawnpore

Madras - (Vizagapatam, Coconada, Trichinopoly

Rangoon

Uniface Issues

King George V (KG-V) Bank Notes

Small Denomination Notes

The earliest Pictorial notes of George V were issued as a result of crisis in precious metal stock due to the World War I in 1917. These were also the first notes issued by the government in small denominations, namely 1 Rupee and 2.5 Rupees. The 1 Rupee notes depict a coin of the same value dated 1917. These notes were signed by the three commissioners’ of issue namely M.M.S. Gubbay, A.C.McWatters and H.Denning, and are known in a total of five varieties, which include variations in the text and watermark. The 2.5 Rupees note depicts the portrait of George V in an octagon.

The issuance of these notes was discontinued on 1st January, 1926 on cost benefit considerations. These notes first carried the portrait of King George V and were the precursors of the ‘King’s Portrait’ Series which were to follow.

One Rupee -1917 (Watters)  

One Rupee 1917 -Sign Gubbay

One Rupee 1917 -Sign Denning
S series-watermark Rayed Star  

King’s Portrait Series

Regular issues of this Series carrying the portrait of George V were introduced in May, 1923 on a Ten Rupee Note. The King’s Portrait Motif continued as an integral feature of all Paper Money issues of British India. Government of India continued to issue currency notes till 1935 when the Reserve Bank of India took over the functions of the Controller of Currency. These notes were issued in denominations of Rs 5, 10, 50, 100, 500, 1000, 10,000.

Five Rupees (1925) KGV 

 Five Rupees (1926) KG-V

Ten Rupees (1923) KG-V

Ten Rupees (1923) KG-V

100 Rs KGV -Lahore Issue

King George VI (KG-VI) Bank Notes

George V breathed his last in 1936, and was succeeded by his son EdwardVIII who soon had to abdicate. His younger brother George VI succeeded him in 1937. The most important event of this period (as far as currency notes are concerned) was the establishment of the Reserve Bank of India. The Reserve Bank of India was established in 1935 as a Central Bank, and the job of issuing notes was entrusted to this bank. The Bank’s issues to January 1938 when the first Five Rupee note was issued bearing the portrait of George VI.

George VI  (Profile Side Facing Series)- Sign JB.Taylor -1938 Issue

Rupees Five – First Note issued by Reserve Bank of India This was followed by Rs 10 in February, Rs 100 in March and Rs 1,000 and Rs 10,000 in June 1938.

Rupees One Thousand (KG VI)-1938 Issue

In August 1940, the one-rupee note was reintroduced, once again as a war time measure, as a Government note with the status of a rupee coin.

One Rupee is issued in 4 Types

• Black Serial
• Black Serial (W Prefix ) with A Inset 
• Green Serial with A Inset
• Red Serial (After Independence issues)

One Rupee KG VI

George VI  (Side Facing- Series) -Sign CD-Deshmukh1944 Issue

George VI  (Front Facing- Series) -Sign CD-Deshmukh 1947 Issue