A) 1903
B) 1757
C) 1801
D) 1861
Sign Up to our social questions and Answers Engine to ask questions, answer people's questions, and connect with other people.
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
Answer is D) 1861
Paper currency first started in India in the 19th century, when the British rulers introduced it. In 1861, the Paper Currency Act was passed which gave the government a monopoly over paper money production.
The first paper currency note, i.e. the 10 rupees note was issued by the Government of India in 1861-62. After that, more notes were issued by both private and semi-government banks like the General Bank of Bengal and Bihar.
The 5 Rupee note was the first paper currency issued by RBI in January 1938. In 1928, India’s first currency printing press was established in Nasik to print paper money.
Thus, it can be concluded that paper currency first started in India during the 19th century, with the Paper Currency Act of 1861 and the 10 rupee note issued by the Government of India.