How Currency is Issued in India?
In India, the paper currency was first issued during British East India Company rule. The first paper notes were issued by the private banks such as Bank of Hindustan and the presidency banks during late 18th century. Via the Paper Currency Act of 1861, the British Government of India was conferred the monopoly to issue paper notes in India.
After this act, the government of India entered into …
You need to be a member of Integrated IAS General Studies Programme to view this content.
Last Updated: June 16, 2015