2019-12-10 Tue

The French started building their interest in India after the establishment of the French East India Company. Their supremacy reached its peak in southern Indian politics around 1750-1770s. Eventually, the war with England and the French revolution saw a decline in French dominion and influence in India. Later on, the French settlement confinement to the east coast of India and its center was Pondicherry.

The banknote issued in the colonies was managed by the ‘Banque de Indochine’ from Paris. Eventually, an agreement between ‘Le Comptoir D’Escompte d’Escomte de’ Paris and ‘Credit Industrial et Commercial’ set a bank to operate the circulation of money in Cochin, china and French India.

In 1877, a branch office of this bank was also opened in Pondicherry in the Oriental Bank Building. This branch was responsible for issuing French notes in India. The entire banknote issued by Banque de Indochine’ from 1876 to World War I, was printed by the Bank of France.

The first one roupie or rupee note was circulated in 1920 and was signed by two signatories as the Administrators in French colonies. The monetary system compares to Indian circulation was different. The money in French-occupied India was based on the silver coinage, the rupee.

The above-shown note was bought in circulation in 1924 but the date illustrated in the note is 1923. This note also contains two signatories of signatories, but their designation is the Director in French India.