Chandigarh, May 2 (Inditop.com) Some bank notes bore the side profile picture of King George V, some were of Rs.10,000 and Rs.5,000 denomination – none of them in circulation any more. There were also valuable tips on how to tell counterfeit currency.
A unique exhibition showcased here by the Reserve Bank of India (RBI) captured the journey of Indian currency notes from 1938 till date.
“There are so many old facts about currency notes which we hope will not wither away with time. This was an attempt to educate the common man about the journey of Indian currency notes,” Jasbir Singh, regional director of RBI in Chandigarh, told Inditop.
The Indian currency note has undergone many changes in terms of design, colour, size and graphics since the pre-independence era. This glorious past was shown at the exhibition.
The corner that attracted the maximum interest was the one showcasing Rs.5,000 and Rs.10,000 denomination notes that were introduced in 1938 but demonetised in 1946 in the wake of rampant circulation of fake notes. They were reintroduced in 1954 but were completely withdrawn in the 1970s.
The exhibition took place from April 27 to 30.
Singh said: “This was a good interaction exercise between the RBI and public and we will try to organise such exhibitions more frequently in the coming days.”
“Our officials explained how to differentiate between genuine and counterfeit notes,” he added.
Besides showcasing notes, the exhibition also explained the history of RBI, different characters imprinted on notes, the relevance of different aspects like the national emblem, security thread, the signature of the RBI governor and need for periodically changing the pattern of notes.
After the establishment of RBI in 1935, the first note that was printed in January 1938 was of five rupees, followed by Rs.10, 100, 1,000 and 10,000 in the subsequent months of the same year.
The first governor of RBI, Sir Osborne Smith, refused to sign the notes and second governor Sir James Taylor signed the notes in 1938.
Besides educating the masses, RBI also took it as an opportunity to spread awareness to prevent misuse of notes.
“We wanted to spread awareness to prevent the misuse of notes like in making garlands, decorating podiums and throwing them during social events and celebrations. Such actions deteriorate the bank notes and shorten their lifespan. They should be given due respect as they are the symbol of the sovereign,” Singh pointed out.
Chandigarh residents were quite enthusiastic about the exhibition of rare bank notes.
“Collecting old currency notes and coins is my hobby and I am pursuing it for the last four years. I have collected all the notes that are in circulation for the last 40 years in our country,” 14-year-old Aanchal Sharma, a visitor, said.
“I wished we still had Rs.5,000 and Rs.10,000 notes. However, I have clicked their photographs from the exhibition and kept them in my collection. We want such exhibitions to take place more frequently in our city,” she pointed out.
Ashish Sharma, a science lecturer, said: “The exhibition took us back to the era of kings and emperors. I especially took my seven-year-old son to the exhibition. He was very excited and asked many questions regarding the notes.”
