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As like the other Indian rupee banknotes, the ₹ 100 banknote has its amount written in 17 languages. On the obverse, the denomination is written in English and Hindi. On the reverse is a language panel which displays the denomination of the note in 15 of the 22 official languages of India. The languages are displayed in alphabetical order.
Later on, new notes of old denominations viz. ₹10, ₹20, ₹50 and ₹100 were issued with old notes of the same value still being legal tender. A ₹200 note, also a first for the Indian Rupee, is currently in circulation. 2023 Currency recall. In May 2023, the Reserve Bank of India started withdrawing the ₹2,000 notes from circulation.
Banknotes of denominations of ₹5, ₹10, ₹20, ₹50, ₹100, ₹500 and ₹1000 of the Mahatma Gandhi Series. The Gandhi Series of banknotes are issued by the Reserve Bank of India (RBI) as the legal tender of Indian rupee.
As the business of counterfeit notes increased, this new chain was introduced in 1867 and was divided into 5, 10, 20, 50, 100, 500, 1,000 and 10,000 rupees notes. In 1923, another series with the portrait of George V was introduced. It was divided into 1, 26, 5, 10, 50, 100, 1,000 and 10,000 rupees notes. [6] [7]
Officially, the Indian rupee has a market-determined exchange rate. However, the Reserve Bank of India trades actively in the USD/INR currency market to impact effective exchange rates. Thus, the currency regime in place for the Indian rupee with respect to the US dollar is a de facto controlled exchange rate.
While the exchanging of notes was initially allowed only until 9th February, 1946, it was extended multiple times. [2]: 5 By the end of 1947, out of a total of Rs. 143.97 crore of high denomination banknotes, notes of the value of Rs. 134.90 crore were exchanged and notes worth Rs. 9.07 crore went out of circulation or were not exchanged.
The basic unit of currency was the Indian rupee, which was itself divided into annas (16 annas to a rupee) and pice (the old spelling of paisa – 64 pice to a rupee). [9] The lowest-denomination Indian coins, the half-pice (128 to a rupee) and the pie (192 to a rupee) were officially demonetized in 1947; while both denominations had continued ...
Banknotes of the Indian rupee include: Lion Capital Series: Banknotes of the Indian rupee printed between 1962 and 2000. Mahatma Gandhi Series: Banknotes of the Indian rupee printed between 1996 and 2018. Mahatma Gandhi New Series: Banknotes of the Indian rupee printed from 2016 to present.