2015-12-07 Mon

Paper currency in India was introduced in late 1800s. The issue of paper currency in India began with “the Paper Currency Act of 1861”, which gave British government the monopoly over to issue note all over India.

The Presidency Banks such as Bank of Hindostan, General Bank in Bengal and the Bengal Bank are the first banks to have issued paper currency. The first set of British India notes were the 'Victoria Portrait' Series issued in denominations of 10, 20, 50, 100, and 1000 carrying two language panels and the Portait of The Queen.