Who can forget that Indigo Colour Smallest denomination note of Re.1 which was stopped by Government of India two decades ago? Now, the same one rupee currency notes are set to make a comeback but in a new colour of pink-green, different from earlier indigo colored notes.
Although, many one rupee notes are still in circulation and are legal tender but GOI has stopped printing them back in 1994. There were always some interesting facts behind one rupee note like who signs and prints one rupee note etc.
So, in a wake of the GOI decision to print one rupee currency note again, I thought of scribing down the interesting facts of One rupee note to rejuvenate our old memories.
One Rupee Note: History and other Interesting Facts
Fact 1: The First One Rupee Notes were issued on 30th November, 1917 bearing photo of King George V. These were issued in a form of unstapled packet of 25 notes, printed on White hand-made moulded paper and signed by any of the 3 signatories who were M. M. S. Gubbay, A. C. Mc Watters & H. Denning.
Reference: One Rupee Note History
Fact 2: After the Independence of India, the Government of India redesigned Re.1 note in 1949 by replacing King’s portrait with the Lion Capital of Ashoka. The initial thought of GOI was to replace King’s portrait with the portrait of Mahatma Gandhi but that did not work out.
Fact 3: One Rupee Notes were printed till 1994 and then stopped due to higher cost and for freeing capacity for higher denomination notes printing.
Fact 4: The Right to mint One Rupee Notes and One Rupee Coins are given to Government of India under the Coinage Act which is amended from time to time.
Fact 5: All the Indian Currency notes except one rupee notes are printed by an arm of Reserve Bank of India but One rupee notes are printed by Government of India.
Fact 6: Also, all the paper currency of India except one rupee note bears the signature of RBI Governor as these are issued by RBI, but Re.1 bears the signature of the Finance Secretary of India as it is issued by GOI. Further, One rupee note does have any silver lining (security thread) embedded in them.
Fact 7: Another major difference between the one rupee note and other notes are that all RBI notes have the statement “I promise to pay the bearer a sum of xxx rupees” but one rupee note does not have this statement.
Fact 8: Unlike all other currency notes that have ‘Bhartiya Reserve Bank’ and ‘Reserve Bank of India’ printed on them, One Rupee note will have ‘Bharat Sarkar’ on its masthead, with ‘Government of India’ printed below that.
Fact 9: Dimensions and Composition of One Rupee Note:
Fact 10: Design of the One Rupee Note