Re 1 note turns 100 today

Re 1 note turns 100 today

It may be hard to spot Re 1 notes these days, but Thursday is  going to be special for this currency that has been part of various phases of modern Indian history.  

November 30, 2017, is a landmark day for the banking system as the one-rupee note completes a century.  

The Government of India had issued banknotes for the first time in 1861, but 'One Rupee' as a promissory note  was first introduced on  November 30, 1917. It was printed in England and depicted a silver coin image of King George V on the left corner.

 At INPEX- 2017, the four-day national philatelic exhibition that begins at the World Trade Center  here on Thursday,  this would be one of the highlights. "We are going to celebrate this historic moment," said Sushilkumar Agrawal, CEO, www.mintageworld.com, the world's first online museum of coins, stamps and currency notes.

“We would be giving out mementoes to visitors at the exhibition.”

Leading numismatist Mahesh Kalra said the one-rupee note came into being as a wartime measure. “There were banknotes earlier, there were coins as well,” said Kalra who is the director of the Centre for Numismatic Information and Studies. “During the war, silver prices had gone up and hence the British government decided to come out with a low-denomination currency note.”

According to Agrawal, though notes of all other denominations have the signature of the Reserve Bank of India governor, the one-rupee note bears the signature of the finance secretary since its issuance from the Republic India.

 

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