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What is the history and evolution of Indian currency?
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Why was the Indian rupee a silver based currency?
Jul 11, 2016 · The Intriguing History of the Indian Rupee and it’s Evolution. The history of Indian currency not only spans centuries but also boasts quite a fascinating past. Read on for a brief glimpse of India’s – and your wallet’s – financial history. By Sanchari Pal.
- India Currency History: Currency in The Early Period
- Indian Currency History: During The British Era
- Indian Currency History: Post-Independence Era
- Indian Currency History: Modern Indian Banking System
- Conclusion
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The history of currency in India dates back to the ancient times in the 6th or 7thCentury B.C. Coins were documented during this period in the Mahajanapada kingdoms. These coins came in irregular shapes and standard weight, with distinct markings. For instance, the Saurashtra coins had markings of a humped bull; the Dakshin Panchala had a marking o...
With the introduction of the Coinage Act of 1835, uniform coinage came into existence all over the country. The Mughal Empire ended subsequently in 1858, and the British gained control over the princely states. Portraits of the Monarch of Great Britain replaced the images on the medieval coins. King George VI replaced the local designs on coins and...
After independence (1947) when India finally became a Republic in 1950, the modern Rupee returned to the signature design of Rupee coin. The Lion Capital at Sarnath was the chosen symbol for the paper currency. This symbol replaced the banknotes with images of King George VI. Therefore, the first banknote that was printed in India post independence...
The banking industry in India became a large employer by the 1960s and now plays a crucial role in expanding Indian economy. Computerization entered the banking industry for the first time in 1988, followed by Internet Banking in the 1990s. However, it was in the 21stcentury that online payment modes such as NEFT, RTGS, and EFT, came into play. Ear...
SSC CGL exam syllabus is vast, and ‘Indian Economy’ is only a portion of the same. In addition to this, candidates must also be keen on other subjects- Quantitative Aptitude, English Language, History, Geography etc. To ace your competitive exam preparation, make sure that you sit for the mock tests
Learn about the origin and evolution of Indian currency from ancient times to the modern era. Find out how coins, banknotes, and digital payments have changed over time and how they are related to the Indian economy.
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Nov 30, 2017 · Below are the interesting facts about how Indian currency notes have evolved over the ages into the rupee of today. The earliest issuers of coins in the world are the Ancient Indians along with...
The Indian rupee was a silver-based currency during much of the 19th century, which had severe consequences on the standard value of the currency, as stronger economies were on the gold standard. During British rule, and the first decade of independence, the rupee was subdivided into 16 annas.
In India the earliest paper money was issued by Bank of Hindostan (1770– 1832), General Bank of Bengal and Bihar (1773–75), and Bengal Bank (1784–91). [105] The use of banknotes issued by private commercial banks as legal tender has gradually been replaced by the issuance of bank notes authorized and controlled by national governments.
Nov 15, 2017 · Money in India goes back 3,000 years, with origins in items like ‘kaudis’. We take an exhaustive look at the evolution of India’s currency systems.
Nov 28, 2016 · Feb-Jun 1938. Rs 10, Rs 100, Rs 1,000 and Rs 10,000 issued. Aug 1940. Rs 1 note reintroduced. Rs 1 was first introduced on 30 Nov 1917, followed by Rs 2 and 8 annas, and was discontinued on 1 Jan 1926. Mar 1943. Rs 2 introduced. 1950. First post-Independence coins issued in 1 pice, 1.2, one and two annas, 1.4, 1.2 and Rs 1 denominations. 1953.
