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The book also deals with banknotes since Indian independence, up to the current series of banknotes with the portrait of Mahatma Gandhi. These include the special-issue notes intended for use in the Persian Gulf for the Trucial States, as well as money used by the Hajj pilgrims. [6]
The Indian 1-rupee note (₹1) is made up of hundred 100 paise as ₹1 = 100 paise. Currently, it is the smallest Indian banknote in circulation and the only one being issued by the Government of India , as all other banknotes in circulation are issued by the Reserve Bank of India .
Like the other Indian rupee banknotes, the ₹ 1000 banknote had its value written in 17 languages. On the obverse, the denomination was written in English and Hindi . On the reverse is a language panel which displayed the denomination of the note in 15 of the 22 official languages of India , displayed in alphabetical order.
Charles Canning, 1st Earl Canning first introduced paper currency in Indian subcontinent in 1861 officially. India has a rich tradition of financial instruments and hundi . In the modern sense, paper currency was introduced in India in the last half of the eighteenth century when private and semi-public banks began to introduce currency.
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Generally, the paper used is different from ordinary paper: it is much more resilient, resists wear and tear (the average life of a paper banknote is two years), [9] and also does not contain the usual agents that make ordinary paper glow slightly under ultraviolet light. Unlike most printing and writing paper, banknote paper is infused with ...
Coins of the Indian rupee (₹) were first minted in 1950. [1] New coins have been produced annually since then and they make up a valuable aspect of the Indian currency system. Today, circulating coins exist in denominations of 1, 2, 5, 10, and 20 rupees.
Zero-rupee note – obverse The old 50-rupee banknote of India, serving as a template to the zero-rupee note.. A zero-rupee note is a banknote imitation issued in India as a means of helping to fight systemic political corruption.