Indian Currency and Indian Banknotes: 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

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