What is the history of Indian currency?

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twinkle das asked 08-Mar-2018 in Currency by twinkle das
What is the history of Indian currency?


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akriti kashyap answered 26-May-2018 by akriti kashyap
Answering this question at one sitting is quite a task and hence I’ll restrict myself to answering a part of this question: The history of Indian Bank Notes. I thoroughly enjoyed researching & reading over articles, books, and papers and hope to answer the question in a more broader sense later on. But for now, enjoy!
What is the history of Indian currency?
1. Monetary certificates issued by Bank of Hindostan :
The Bank of Hindostan (1770-1832) was thought to be one of the primary present day banks in British India. It was set up by the organization house called Alexander and Company and ended up dead in 1830's generally because of the organization's own botch. The section utilized as a part of the certified receipts is sicca (1 sicca would be generally proportional to 1.16 rupees[1]) . The monetary orders that you can see underneath were imprinted in the period from 1800's to 1830's. Notice that the section (4, 500, 16, 20 sicca) were imprinted in the inside (as a guarantee) in English, in the left in Hindi, focus in Persian and justified in Bangla.
2. Monetary certificates issued by the Bank of Bengal :
The Bank of Bengal was the first among the 3 administration banks to be set up in 1806 as the Bank of Calcutta to fund the British wars against Tipu and the Marathas. It was renamed as Bank of Bengal 3 years after the fact. The bank of Bengal is in truth credited with actuality of issuing the primary legitimate certified receipts in India. The main monetary orders were the uniface arrangement (imprinted on just a single side). In the vast majority of the notes beneath :
You can see an illustrious woman sitting on stock, meaning business and exchange (The trade arrangement). Later on the two sides of the notes were printed.
• Notice the tiger (speaking to Sher Shah Suri's region) on the left and the elephant on the right (residual domain) in the primary monetary certificate.
• After making installments, the monetary orders used to be cut into 2 and the signatory evacuated. All the monetary orders of this period used to be drop in the wake of making installments. Notes of this period without cancelation haven't been found.
• Languages : English, Bangla and Kaithi
3. Certified receipts issued by The Commercial Bank of Calcutta (1819 - 1831) and Bombay (1845-1861) :
The certified receipts issued by these banks were not perceived by the administration. These notes were adequate just in the bank. It soon wound up old and the monetary orders, a thing of extravagance for the authorities.
4. Monetary certificates issued by The Union Bank (1829-1848) :
The Union Bank was built up in 1829 in Bengal. Very little is thought about the notes issued in this period since they weren't broadly flowed. You can unmistakably make out :
• The pictures of snakes, elephants and tiger conceivably implying domains.
• The use of English, Marathi, Bangla and Persian
• That the section and the Bank is imprinted in askew inverse corners.
5. Monetary orders issued by Bank of Bombay (1840-1921):
The Bank of Bombay was the second administration bank to be set up in 1840. These monetary certificates were issued between 1850-1860. Notice the utilization of English, Urdu, Marathi and Gujarathi in the four corners to speak to the section. They bear a few highlights of the Union monetary certificates, for example, pictures on the outrageous left and right.

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