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Vignettes in the book include the history of Indian bank notes dating back to 1770, when the Bank of Hindostan, a private bank located in Calcutta issued its first banknotes. However, the earliest banknote to still survive is dated 1810, by the Bank of Bengal. The book includes a comprehensive listing of all Indian banknotes since 1770. [6]
By 2013 the Indian Banking Industry employed 1,175,149 employees and had a total of 109,811 branches in India and 171 branches abroad and manages an aggregate deposit of ₹ 67,504.54 billion (US$780 billion or €760 billion) and bank credit of ₹ 52,604.59 billion (US$610 billion or €590 billion).
The main question which arose was whether the rules of evidence in Indian banking would be governed by British legislation, as India was then a British colony. As a result, it was decide to adapt and adopt the Bankers' Books Evidence Act, 1879 of the British Parliament to Indian banking.
The Reserve Bank of India, which had been established during British colonial rule as a private company, was nationalized in 1949 following India's independence. By the early 21st century, most of the world's countries had a national central bank set up as a public sector institution, albeit with widely varying degrees of independence.
Bharatiya Reserve Bank Note Mudran; F. Fake Indian currency note; I. Indian 1-rupee note; ... Indian 1000-rupee note; Indian 2000-rupee note; L. Lion Capital Series; M.
Section 22 states that only the RBI has the exclusive rights to issue currency notes in India. Section 24 states that the maximum denomination a note can be is ₹ 10,000 (US$120). Section 26 of Act describes the legal tender character of Indian bank notes. Section 28 allows the RBI to form rules regarding the exchange of damaged and imperfect ...
It made a world record by printing more than 20,000 million pieces of bank notes in financial year 2016–17, It has its own design cell. It has the capability to print all the denominations of Indian bank notes. The other two bank note presses of SPMCIL are Currency Note Press Nashik Road, and Bank Note Presses Dewas.
The Reserve Bank of India (RBI) introduced the series in 1996 with ₹10 and ₹500 banknotes. As of 10 November 2016, the RBI issues banknotes in this series in denominations from ₹5 to ₹100. Printing of five-notes, which had stopped earlier, restarted in 2009.