Did You Know India Used To Have Rs 10,000 Rupee Note? Here's What It Looked Like

From Rs 10,20,50,100 to 500 and until demonetization, Rs 1,000 were the commonly used banknotes by most of us, right? Some of us might have even seen some lesser-known banknotes like Re.1, Rs 2 and Rs 5 notes too.

After demonetization, new Rs 500 notes and an entirely new denomination of Rs 2,000 was introduced. But has the Rs 2,000 note been the highest denomination of banknote which the RBI ever printed?

pinterest

Well, to many of you¡¯s surprise, it isn't! While it's true that at present Rs 2,000 is the highest denomination of banknotes in circulation, the highest ever denomination of banknotes for our currency Indian rupee was Rs 10,000!

Yes, you read that right.

rbimuseum

As per the RBI website itself, the highest denomination note ever printed by the Reserve Bank of India was the Rs 10,000 note in 1938. It was demonetized in January 1946 but was again introduced in 1954. It was finally again demonetized in the year 1978.

Which denomination banknotes are currently in circulation?

As per RBI, banknotes in India are currently being issued in the denomination of ?10, ?20, ?50, ?100 ?200, ?500, and ?2000. These notes are called banknotes as they are issued by the Reserve Bank of India.

The printing of notes in the denominations of ?2 and ?5 has been discontinued and these denominations have been coined as the cost of printing and servicing these banknotes was not commensurate with their life. However, such banknotes issued earlier can still be found in circulation and these banknotes continue to be legal tender. ?1 notes are issued by the Government of India from time to time and such notes including those issued in the past also continue to be legal tender for transactions.

Also Read: Five Surprisingly Lesser Known Facts About World's Money

shutterstock

Also Read: How Much Do Guinness World Record Holders Get Paid?

Overall, in what denominations can the notes be issued?

As per RBI, in terms of Section 24 of the Reserve Bank of India Act, 1934, bank notes shall be of the denominational values of two rupees, five rupees, ten rupees, twenty rupees, fifty rupees, one hundred rupees, five hundred rupees, one thousand rupees, five thousand rupees and ten thousand rupees or of such other denominational values, not exceeding ten thousand rupees, as the Central Government may, on the recommendation of the Central Board, specify in this behalf.

Also Read: Strange Money Superstitions From Around the World

For more of such interesting financial news, keep reading Indiatimes Worth. Click here.