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The Indian rupee (symbol: ₹; code: INR) is the official currency of the Republic of India.The rupee is subdivided into 100 paise (Hindi plural; singular: paisa).The issuance of the currency is controlled by the Reserve Bank of India.
The British India banknotes of King George V were also printed in England. In 1928, the India Security Press at Nasik became functional and took over from the Bank of England Press the printing of notes. In 1935, the Reserve Bank of India was established, and since then it has been the only currency-issuing authority and monetary agency for ...
In 1877, coins for 1, 2, 5, 10 and 20 cents were introduced, with the lower three denominations in copper and the higher two in silver. Coin production ceased in 1899 and did not recommence until 1911, with silver coins not produced again until 1934, when Re. 1 ⁄ 4, Re. 1 ⁄ 2 and Re. 1/- coins were introduced.
The word "naya" was dropped in 1964 and a new denomination, the 3 paisa, was introduced into circulation. A 20 paisa coin was minted in 1968. Neither of these coins gained much popularity. The 1, 2 and 3 paisa coins were phased out gradually in the 1970s. In 1982, a new 2 rupee coin was introduced experimentally to replace 2 rupee notes.
The most commonly used symbol for the rupee is "₨". India adopted a new symbol (₹) for the Indian rupee on 15 July 2010. In most parts of India, the rupee is known as rupaya, rupaye, or one of several other terms derived from the Sanskrit rūpya, meaning silver. Ṭaṅka is an ancient Sanskrit word for money.
George V series: A series carrying the portrait of George V were introduced in 1923, and was continued as an integral feature of all paper money issues of British India. These notes were issued in denominations of ₹1, ₹ 2 + 1 ⁄ 2 , ₹5, ₹10, ₹50, ₹100, ₹1,000, and ₹10,000.
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Grade Grade code(s) Description [1] 1 Poor PO Note is mostly in one piece, but is a badly worn "rag". The note may have staining, pieces missing, graffiti, and/or larger holes present. The tape used to hold pieces of the note together and edge trimming may also be present. In this grade skilled restoration is often done to preserve rare issues.
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