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Brief History of Indian Banknotes That Were Issued For Presidencies

Refer this presentation to learn about the history of Old Indian Banknotes that were issued for three different presidencies from the colonial era. Find out interesting facts about the oldest banks of India and the early banknotes issued by them.<br>https://www.mintageworld.com/note/dynasty/32/

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Brief History of Indian Banknotes That Were Issued For Presidencies

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  1. Brief History of Indian Banknotes That Were Issued For Presidencies

  2. East India Company had issued various types of interesting Indian Banknotes for three different presidencies namely, Bengal, Bombay and Madras. • Bank of Hindostan, the General Bank in Bengal and Bahar, Bengal Bank issued the earliest banknotes of India and these early banknotes of India can be classified as per the presidencies they were issued for.

  3. Old banknotes of India that were issued for Bengal Presidency featured designs only one side and were called as Uniface notes. They carried denominations such as one gold mohur, Rs. 100, Rs. 250, Rs. 500, etc • These Indian presidency notes were later called as Commerce Notes as they featured an allegorical female figure symbolising 'commerce'. These notes featured designs on both sides and had a language panel in Urdu, Bengali and Devanagari.

  4. Early banknotes of India for Bombay Presidency were issued by Bank of Bombay from 1850 to 1860 although the bank was set up in 1840. • After the Currency Act of 1861 was introduced, private as well as presidency banks were not allowed to issue paper promise notes. Some of these rare banknotes featured an image of the Town Hall of Bombay.

  5. Banknotes for India were issued for Madras Presidency by the Bank of Madras from 1843. Carnatic Bank, Madras Bank and Asiatic Bank were merged together to form this bank. • Madras Bank was set up in 1682 and is considered as the first bank in India. Early banknotes issued by Bank of Madras depicted the vignette of the then Governor of Madras Sir Thomas Munroe.

  6. Did you know? Many of these early Indian banknotes were issued in odd denominations such as 8 rupees, 15 rupees, 25 rupees, 5000 rupees etc! • By studying Indian banknotes, you can learn a lot about India’s colonial past. It is very rare to find these Early Indian banknotes and if you have any of them in your collection, you are really lucky!

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