India Banknotes
Explore Rare and Historic Indian Banknotes
The history of Indian banknotes offers a fascinating glimpse into the country’s colonial past, struggle for independence, and economic evolution. Early Indian currency began with issues by the Presidency Banks—notably the Bank of Bengal, Bank of Bombay, and Bank of Madras—before the Government of India introduced official paper money featuring the portrait of Queen Victoria. These were followed by the distinctive green and red underprint uniface notes.
In 1917, India introduced King George V portrait banknotes, ushering in a new era of portrait banknotes. With the formation of the Reserve Bank of India (RBI) in 1935 and the accession of King George VI, the RBI took over currency issuance, producing denominations ranging from 2 Rupees to 10000 Rupees, while the Government of India continued to issue 1 Rupee notes.
After India’s independence in 1947, the country moved away from British monarch portraits. Post-independence issues featured the Ashoka Pillar, symbolizing the Republic, and were later followed by the iconic Mahatma Gandhi series, still in circulation today.
The colonial period also saw the issuance of unique banknotes in French India and Portuguese India, as well as currency from princely states like Hyderabad, which issued its own notes. Additionally, the Republic of India printed special Gulf Rupees and Haj notes, used in the Arabian Gulf and for the Haj pilgrimage, easily identified by their different colors and serial prefixes.
Collecting Indian banknotes offers a rewarding journey through diverse political eras, design styles, and regional histories.
Learn More About Indian Banknotes
Discover the history of Indian currency and its regional influence—from colonial-era issues, regional issues in Burma and Pakistan to post-independence notes like the Arabian Gulf Rupees.
Looking for a Specific Note?
If you’re hunting for a specific issue or need help building your collection, contact us directly. We regularly source rare items and maintain a trusted network.