2020-01-21 Tue

The first note whose payment was guaranteed by the Government was introduced in circulation for the first time through the Indian Paper Money Act of 1861. But the most fascinating and important amongst all the notes was the One Rupee note which was issued for the first time as a promissory note on 30th November 1917 during the reign of King George V.

The above-shown image depicts the second one rupee note of King George V. It was issued on 24th July 1940. The Obverse of this note depicts English legend ‘Government Of India' above; language panel on the left; Image of the obverse side of a silver coin depicting the portrait of King George V in front of 'Rupee' (used for the first time) placed in the right-hand corner; 'One/Rupee' in the central denomination panel; A large '1' next to the language panel in white; No promise text; Signed by the 'Controller of Currency'.

The reverse side of this note depicts a stylized GRI in the center; Serial number in the lower-left area; Reverse of 1935 coin in the top left area.

The significant change that is seen in this note is the elaborated design and decorated border on the obverse. The language panel is shifted to the obverse side.