Did You Know Currency Notes in India Were Launched as Cheque Books During British India? More Such Interesting Facts Inside!

Posted on 17 August 2016. Tags: books, British, cheque, currency, during, facts, INDIA, inside, interesting, Know.., launched, more, Notes, such, were

Money or currency notes have become a vital part of our daily lives ever since the system of coinage commenced in the world. What began in India during the 6th century BC in the medieval and Mughal period, took the form of currency notes or paper money during the late eighteenth century.

 

Bank of Hindostan, General Bank in Bengal and the Bengal Bank became the very first banks in the country to launch paper notes for the very first time. Immediately, it turned out to be a monopoly of note issuance throughout the vast expanse of British India.

 

Although we now know the currency notes to be carrying the image of the Father of the Nation; Mahatma Gandhi, the series that were introduced in the year 1923 carried the portrait of George V, the reigning King of the British consulate.

 

Right from denominations of 1 to 10,000, the banks launched several notes that began spreading around the country like wild fire.

 

But among the wild circulation of paper money, did you know that currency notes were initially introduced in the form of a cheque book? That’s right! British India launched series of currency notes that were printed on one side of the paper that simply needed to be torn off the book, much similar to the cheque book concept we have at present.

 

Having come a long way from the images of Queen Victoria to that of Mahatma Gandhi, the Indian currency notes pre-Independence have many vital unknown facts that are waiting to be unveiled. So on the occasion of India completing its 69 years of Independence; take a look at the unseen side of paper notes that rule the world! 

 

Click more to see pics…

 

Daily Bhaskar