History of Indian Rupee | Indian Currency
History of Indian Rupee || Indian Currency: The word Rupee or Rupya is originated from the Sanskrit word Raupya, which means silver.
The Rupee which we keep in our pocket has a historical past which can be traced back to the ancient India of the 6th century BC.
The ancient Indians along with the Middle Eastern were the earliest issuers of coins.
The first Indian coins were made by the Mahajanapadas also called as Puranas Karshapanas or Panas.
These coins had irregular shapes and made of silver with a different marking like Saurashtra had a hump Bull, Dakshin Panchal had a Swastik and Magadh had several symbols.
Punched marked coins with gold silver and copper were made by the Maurya.
The Indo-greek introduced Greek engraved portraits on the coin.
The Turkish Sultan of Delhi the designs of Indian kings with Islamic calligraphy till the 12th century AD. which was made up of gold silver and copper known as Thanka.
The Mughal Empire from 1526 AD combine the monetary system for the entire empire, in this era, the rupee introduced when Shershah Suri defeated Humayun
and issued the silver coin of 178 grams known as Rupya which was then divided into 40 copper pieces also known as paisa and during the old Mughal period silver coin remained in use.
In 1717 AD British gold coins were termed as Carolina the Silver coins as Angelina the Copper coins as Copperon and the Tin coins as Tini.
In the 18th century, the Bank of Hindustan General Bank in Bengal and the Bengal bank became the first bank in India to issue paper currency.
King George vi after the revolt of 1857 made the Rupee as the official currency of colonial India.
In honor of Queen Victoria in 1862 lot of Banknotes and coins were made with the Victoria portrait finally in 1935 the Reserve Bank of India was formed and issued Government of India notes, it had also printed 10000 rupee note and was later demonetized after independence.
After the Independence Act 1947, the symbol chosen for the paper currency was the Lion Capital at Sarnath.
The Mahatma Gandhi birth centenary commemorative design was issued in 1969 by Reserve Bank of India on rupees 5 in rupees 10 notes then finally in 1996 the Mahatma Gandhi notes were introduced.
Some say that his picture was drawn but actually his picture was taken by an unknown photographer in 1946 which then started printing on the notes.
Tag: History of Indian Rupee || Indian Currency
Why is Gandhi’s portrait printed on Indian notes
I know we all have this question in our minds Why Mahatma Gandhi Photo on Indian Currency that is why you are here.
Every year October 2nd, we Indians celebrate the birthday of the father of the nation Mahatma Gandhi.
Mahatma Gandhi had a huge impact on history and our ethers as a nation.
His influence is so great that till date we see his face every day on our currency but have any of you ever wondered why only Mohandas Karamchand Gandhi and not any other Indian personality features on our currency notes?
Most 90’s Kids may not even remember this but before 1996 not all rupee note had Gandi’s famous Photo on them.
Before the Reserve Bank of India issued the Mahatma Gandhi series of notes the Indian rupees used to be adorned with the Asoka Stumb and other symbols and achievement representing our country.
Only 500 rupees note issued in 1987 had his photo printed on it along with the Dandi march on the riverside.
The Mahatma Gandhi series released in faces from 1996 November 2000.
The RBI along with the Indian government decides the look and feel of the Indian currency and why no official statement was issued on by the Mahatma represents the Indian Rupee.
Former RBI Governor Raghuram Rajan said this at an event back in 2014, there are so many great Indians but of course, he is the father of the nation and he stands Head and Shoulders above everyone.
There are many great Indian that we can get all the notes but I sense that anybody else would be controversial there you have it.
Where did the printed Photo of Mahatma Gandhi on Indian notes come from?
Did you know the secret of the photo of Mahatma Gandhi printed on Indian currency
It is come to know that this photo was taken in the year the ’90s and it is the original one, this photo was taken at that time when MG visited the house of Lord Frederick Pethick Lawrence.
In which year was Indian Currency released with Mahatma Gandhi’s photo on it?
In October 1987, `500, the banknote was introduced in October 1987 with the portrait of Mahatma Gandhi and the Ashoka Pillar watermark. The Reserve Bank has introduced banknotes in the Mahatma Gandhi Series since 1996.
The banknotes in MG Series – 1996 were issued in the denominations of ` 5, (introduced in November 2001) ` 10 (June 1996), ` 20 (August 2001), ` 50 (March 1997), `100 (June 1996), ` 500 (October 1997) and `1000 (November 2000).
All the banknotes of this series bear the portrait of Mahatma Gandhi on the obverse (front) side, in place of the symbol of Lion Capital of Ashoka Pillar, which has also been retained and shifted to the left side next to the watermark window.
This means that these banknotes contain Mahatma Gandhi watermark as well as Mahatma Gandhi’s portrait.
Mahatma Gandhi Photo on Indian Currency
Hope now everyone got to know Why Mahatma Gandhi Photo on Indian Currency
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