Indian Currency - Introduction, History, Explanation

Table of Contents

Introduction

The Indian rupee (symbol: ₹; code: INR) is the official currency of India.

The issuance of the currency is controlled by the Reserve Bank of India, on the basis of the Reserve Bank of India Act, 1934.

In 2010, a new rupee sign (₹) was officially adopted.

It was designed by D. Udaya Kumar (Udaya Kumar Dharmalingam).

First banknote of independent India, one rupee (1949).

Rupee One denomination was re-introduced in 2015.

Mahatma Gandhi (New) Series

The Republic of India took reforms in November 2016 when it withdrew the legal tender status of ₹ 500 and ₹ 1,000 denominations of banknotes of the Mahatma Gandhi Series issued by the Reserve Bank of India till November 8, 2016.
The new banknotes were introduced in the Mahatma Gandhi (New) Series, highlighting the cultural heritage and scientific achievements of the country.
Distinct colours were used for different denomination and sizes reduced.
Two new denominations ₹ 2000 and ₹500 were introduced on November 08, 2016

₹ 100

The first 100-rupee note featured the portrait of George VI.
After independence in 1947, Reserve Bank of India continued to issue the notes by replacing the portrait of George VI with the Emblem of India, as a part of the Lion Capital Series of banknotes.
The Reserve Bank in 1969 came out with a commemorative note of Rs 100 showing Mahatma Gandhi seated in the backdrop of the Sevagram Ashram.

₹ 200

₹ 200 on August 23, 2017 were introduced in the Mahatma Gandhi (New) Series.

₹ 500

In 1987, the ₹500 note was introduced, followed by the ₹1,000 note in 2000.
But the portrait of the father of the nation made its regular appearance on currency notes only in 1987 when the series of rupee 500 currency notes showing a smiling Gandhi was launched in October that year.
The current ₹500 banknote, in circulation since 10 November 2016, is a part of the Mahatma Gandhi New Series.

₹ 10000

The highest denomination note ever printed by the Reserve Bank of India was the ₹10000 note in 1938 which was demonetized in January 1946.
The ₹10000 was again introduced in 1954. These notes were demonetized in 1978.

**Rupees One Hundred : Size 66 x 142 mm**

**Rupees Two Hundred : Size 66 x 146 mm**

**Rupees Five Hundred : Size 66 x 150 mm**

**Rupees Two Thousand : Size 66 x 166 mm**

Current Bank Notes (Mahatama Gandhi Series)

	Size	Colour	Reverse	Issue On
5	117 mm x 63 mm	Green	Tractor	2002/2009
10	123 mm x 63 mm	Brown	Konark Sun Temple	2018
20	129 mm x 63 mm	Yellow	Ellora Caves	2019
50	135 mm x 66 mm	Cyan	Hampi with Chariot	2017
100	142 mm x 66 mm	Lavender	Rani ki vav	2018
200	146 mm x 66 mm	Orange	Sanchi Stupa	2017
500	150 mm x 66 mm	Stone Grey	Red Fort	2016
2000	166 mm x 66 mm	Magenta	Mangalyaan	2016

New Currency Effective from

2000	8 November, 2016
500	10 November, 2016
200	23 August, 2017
100	July, 2018

Press of Currency

Bank notes are printed at four currency presses.

Security Printing and Minting Corporation of India Ltd. (SPMCIL) owned by the Government of India

Nasik (Western India)
Dewas (Central India).

Bharatiya Reserve Bank Note Mudran Private Ltd. (BRBNMPL) is owned by the Reserve Bank.

Mysuru (Southern India)
Salboni (Eastern India)

Coins are minted in four mints owned by SPMCIL owned by the Reserve Bank.

The coins are issued for circulation only through the Reserve Bank in terms of Section 38 of the RBI Act.

Mumbai,
Hyderabad,
Kolkata
NOIDA.

Important Lines about Currency

The paper currently being used for printing of banknotes in India is made by using 100% cotton.
Fifteen languages are appearing in the language panel of banknotes in addition to Hindi and English on the reverse of the banknote.
Yes, it is possible to have two or more banknotes with the same serial number, but they would either have a different Inset Letter or year of printing or the signature of a different Governor of RBI.
There can be notes without any inset letter also.
Instead of Inset Alphabet RBI introduced *(Star) Series Fresh banknotes in August 2006.
Physically Challenge People can identify bank notes with symbols.

Mobile Aided Note Identifier (MANI) is a mobile application launched by the Reserve Bank for aiding visually impaired persons to identify the denomination of Indian Banknotes.

Official Users	Unofficial User
India Bhutan Nepal	Zimbabwe

The Bhutanese ngultrum is pegged at par with the Indian rupee; both currencies are accepted in Bhutan.
The Nepalese rupee is pegged with the Indian rupee;
The Indian rupee is accepted in Bhutan and Nepal, except ₹500 banknotes of the Mahatma Gandhi Series and the ₹200, ₹500 and ₹2,000 banknotes of the Mahatma Gandhi New Series, which are not legal tender in Bhutan and Nepal and are banned by their respective governments.
On 29 January 2014, Zimbabwe added the Indian rupee as a legal tender to be used.

Currency