Nilaish Banknotes World

by Nilaish Life Member IBNS-IBCC Paper money is an instrument which circulates money from place to place. Indian banknotes are known since 1770, but there is no specimen or issued note known before 1812. The earliest banknotes which is seen in Razack et al. (2012) shows notes of Bank of Hindostan, Bank of Bengal, Bank of Bombay and Bank of Madras. There were three presidencies; Bengal, Bombay and Madras where these government and private joint stock banks circulated banknotes in India.  These notes were promissory notes issued on demand and were paid on demand. The below excerpt of Bank of Hindostan banknote shows the promissory note as; Bank of Hindostan 10 Sicca Rupees banknote's promissory text:  ON DEMAND I PROMISE to pay to.................... or bearer Sicca Rupees TEN.  Image Courtesy: Rezwan Razack  All other issues of bank of Hindostan had same promissory text. The earliest known banknote which has survived is dating to 1812 of Bank of Be...

Nilaish Life Member IBNS - IBCC (Report)  Everyone spends it daily from their wallets ... hundreds and thousands! I bet that very few people check the notes before spending it. I had been collecting Indian Paper Money since 1997 and yet not grown out of that passion! It is an adventure sport which makes you educated on the way. I was not aware that in India; banknotes were used  since 1810. The earliest survived note is dating to 1812 of Bank of Bengal. This bank is known as oldest government bank in India. It was established by East India Company under shareholder-ship with fellow joint stock firms. They were banks even before 1800s, Bank of Hindostan was established in 1770 recorded by Amiya Bagachi who wrote the history of banking in particular State Bank of India in volumes. Collecting Paper Money of India  I will share some collecting experiences of fellow collectors who enjoy this hobby religiously. The oldest ever catalogue on Indian paper money as ...

An Exceptional Rupees 10 note of 8th June 1863 issued by Government of India, Signed by J.A. Ballard, Commissioner, having serial number C/17 30767, circle of issue is Bombay, With some flaws but very rare note! It is estimated  £30,000-35,000  by SPINK & SON for their April Auctions of 2014.  Image Courtesy: SPINK & SON.   April 15 & 16, 2014 World Banknotes Sale of Spink at London will comprise this exceedingly rare example of 10 Rupees of India. These notes were the first issue of Government of India after currency act of 1861. The private and presidency banknotes were withdrawn and new design with Queen Victoria portrait notes were issued. A very few notes remain in collections but absent from many collections, reported by Barnaby Faull, Director of Banknotes at SPINK.  Image Courtesy: SPINK