Transparent Paper Money of George VI
Albert Frederick Arthur George, familiar as George VI was the last Emperor of India of the British Raj until August 1947. He was the king of the United Kingdom and the Dominions of the British Commonwealth from 1936 to 1952. In the last half of the eighteenth century, paper money was introduced in India when private and semi-public banks began to introduce currency. But the Government of India got the exclusive right to print and circulate banknotes followed by the Paper Currency Act, 1861 and thereby abolishes the printing and circulation of banknotes by the private Presidency Banks. To respond to economic troubles after the First World War, the Reserve Bank of India was founded on 1 April 1935. It was set up based on the recommendations of the 1926 Royal Commission on Indian Currency and Finance. Royal Commission on Indian Currency and Finance was also known as the Hilton Young Commission. After that, the Government of India continued to print and issue banknotes. the Reserve Bank ...