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The Indian 1000-rupee banknote (₹ 1000) is an obsolete denomination of the Indian rupee. It was first introduced by the Reserve Bank of India in 1938 under British rule and subsequently demonetized in 1946. Post-independence, the denomination was re-introduced in 1954.
Banknotes of denominations of ₹5, ₹10, ₹20, ₹50, ₹100, ₹500 and ₹1000 of the Mahatma Gandhi Series. The Gandhi Series of banknotes are issued by the Reserve Bank of India (RBI) as the legal tender of Indian rupee.
The Mahatma Gandhi New Series of banknotes are issued by the Reserve Bank of India (RBI) as the legal tender of the Indian rupee (₹), intended to replace the Mahatma Gandhi Series of banknotes. Announced on 8 November 2016, it followed the demonetisation of ₹ 500 and ₹ 1000 banknotes of the original Mahatma Gandhi Series.
According to a 2018 report from the Reserve Bank of India ₹15.3 lakh crore (15.3 trillion rupees on the short scale) of the ₹15.41 lakh crore in demonetised bank notes, or approximately 99.3%, were deposited in banks, leading analysts to state that the effort had failed to remove black money from the economy.
The High Denomination Bank Notes (Demonetisation) Act, 1978 was an act of the Indian Parliament that demonetized the high-denomination banknotes of ₹1000, ₹5000, and ₹10000. It was first introduced as the High Denomination Bank Notes (Demonetisation) Ordinance, 1978, by the then President of India Neelam Sanjiva Reddy . [ 3 ]
The Digital Rupee (e₹) [39] or eINR or E-Rupee is a tokenised digital version of the Indian Rupee, issued by the Reserve Bank of India (RBI) as a central bank digital currency (CBDC). [40] The Digital Rupee was proposed in January 2017 and launched on 1 December 2022. [ 41 ]
The Reserve Bank of India was formally inaugurated on Monday, 1 April 1935 with its Central Office at Calcutta. Section 22 of the RBI Act, 1934, empowered it to continue issuing Government of India notes until its own notes were ready for issue. The bank issued the first five rupee note bearing the portrait of George VI in 1938. This was ...
A 10 rupee note signed by Bhattacharya fetches 800 to 1000 rupees today. [6] During his tenure as Governor of RBI, the size of the bank notes of Rs 5, 10 and 100 denominations had been reduced to cut cost of production, which make these notes relatively rare in the collectors market.