History of the Paper Currency in India: 3 Periods

The following points highlight the three distinct periods of paper currency in the history of India. The periods are: 1. Paper Currency Prior to 1861 2. Paper Currency between 1861 to 1919 3. Paper Currency after 1919. 1. Paper Currency Prior to 1861: Prior to 1861, the right of note-issue belonged to private banks, there being no government issue of [...]