Currency of British India And Its Fascinating History

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Currency of British India And Its Fascinating
History
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• After the Paper Currency Act of 1861 was
  introduced, the Government officially started
  issuing British India notes. Presidency Banks
  were given the permission to circulate currency
  of British India for their respective circle of
  issue.
• Agreements with Presidency Banks were terminated
  in 1867 after which the Mint Masters, the
  Accountant Generals and the Controller of
  Currency managed the issuance of British Indian
  currency notes.

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• Unifaced British Indian Currency notes were
  introduced in the Victoria Portrait Series. They
  were produced using handmade paper at the
  Laverstock Paper Mills.
• Rs. 10, 20, 50, 100 and 1000 banknotes were
  issued in this series with security features like
  watermark, GOVERNMENT OF INDIA, RUPEES, two
  signatures and wavy lines etc. These British
  India Notes were cut in half. One half was sent
  by post and the other half was sent again via
  post after the confirmation of receipt.

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• British currency in India belonging to the
  unifaced Underprint Series was introduced in
  1867 as notes from the Portrait Series were
  duplicated and circulated by fraudsters.
• 5, 10, 50 and 100 Rupees banknotes were allowed
  to be exchanged and enchased outside the circle
  of issue as well from 1903 to 1911.

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• British Indian currency notes featuring the
  portrait of King George V were issued in May
  1923. The Reserve Bank of India became the
  official controller of Currency in 1935 and until
  then the Government of India continued issuing
  these notes.
• The Currency Note Press in Nasik started printing
  currency notes in 1928. The security features
  were improved in 1932 with better watermarks,
  detailed portrait designs and multicoloured
  printing.

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• Currency of British India featuring a portrait of
  Edward VIII was supposed to be released in 1937.
  But Edward VIII was abdicated from the throne and
  five rupees notes featuring a portrait of King
  George VI was released in January 1938.
• History of British India currency notes witnessed
  a lot of ups and downs which gave rise to many
  interesting varieties. As a collector, you will
  have to keep searching for these varieties so
  that you can put together an impeccable
  collection.