The one rupee note occupies a unique place in Indian legal and monetary history. Unlike all other banknotes issued by the Reserve Bank of India, the One Rupee note is issued directly by the Ministry of Finance, bearing the signature of the Finance Secretary rather than the RBI Governor.
Milestones of Indian 1-Rupee Notes
- 1917 King George V (First Issue): Printed in England on watermarked paper to alleviate severe silver shortages during WWI.
- 1935 King George V (Second Series): Redesigned with King's profile in right oval frame.
- 1940 King George VI: Introduced the green and violet engraving signed by C.E. Jones.
- 1949 First Republic of India Note: Replaced the British King's portrait with the Lion Capital of Ashoka, signed by K.R.K. Menon.