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