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.