The British India 1 Rupee note was first issued in 1917 as a wartime measure to address a global silver shortage. It marked the first time a 1 rupee denomination was introduced in paper money form, replacing silver coins in everyday transactions. Issued directly by the Government of India, the 1917 issue originally functioned as a standard currency note.
Its unique legal status changed following the establishment of the Reserve Bank of India (RBI) in 1935. When the RBI took over currency management and began issuing its own distinct banknotes in 1938, the 1 Rupee note was legally designated to hold the status of a rupee coin rather than an ordinary banknote. Because of this distinction, it continued to be issued directly by the Government of India throughout, remaining completely unaffected by the transition to RBI-managed paper currency.
Over time, the British India 1 Rupee banknote evolved through multiple designs, signatures, and printing varieties, including issues under King George V and King George VI. The later King George VI notes are particularly notable for their serial number variations, including black, green, and red printings, which add further interest for collectors. The note was also used beyond India, with special overprints for Burma and adapted versions for Pakistan after independence.
This guide explores the full history, key varieties, and collecting significance of the British India 1 Rupee currency note.
Table of Contents
Background of the British India 1 Rupee Note
Before 1917, the lowest denomination of paper currency in British India was 5 Rupees, while the 1 Rupee existed only as a silver coin. Public trust in money was closely tied to intrinsic metal value, and paper currency was generally accepted only for higher denominations.
Under the Indian Paper Currency Act of 1871, banknotes were not issued below 5 Rupees, reinforcing the role of silver coins in everyday transactions. As a result, the introduction of the 1 Rupee banknote in 1917 marked a significant monetary shift, replacing metal currency with paper for small-value transactions during a period of economic pressure.
World War I and Silver Shortage
During World War I, the global demand for silver surged, and prices soared. Britain faced severe shortages of silver bullion needed to mint coins. The Indian Paper Currency (Amendment) Act, 1917, reduced the minimum denomination of paper currency to 1 rupee to address this shortage. The 1 Rupee note was issued on 30 November 1917, followed by the 2½ Rupee note on 2 January 1918. Initially, these notes were met with suspicion and were sometimes exchanged at a discount, but the public gradually accepted them as practical necessities.
1917 British India 1 Rupee Note
The 1917 1 Rupee note was the first Indian banknote printed on both sides and featured a portrait of King George V. This issue is catalogued as BNB B135 / Pick 1.
Design and Features
The banknote featured King George V shown on the obverse of a 1-Rupee coin, positioned in a circular frame on the left. The top inscription read “Government of India,” and below it, the promise text stated “I promise to pay the bearer the sum of One Rupee on demand at any Office of Issue.” A distinctive red underprint similar to a security tint added protection against counterfeiting. The denomination was boldly printed in the center in English, with the signature of the Controller of Currency below.
The reverse depicted the reverse of the 1-Rupee coin, dated 1917, alongside a multilingual panel listing “One Rupee” in various regional scripts, flanked by the crowned monogram “GRI.” Security features included a star and wavy lines watermark and underprint. The note had no security thread and measured 128 × 70 mm.
Key Features:
- Front: King George V on the obverse of a 1-Rupee coin, in a circular frame
- Back: reverse of the 1-Rupee coin, dated 1917, with the multilingual panel
- Red underprint for anti-counterfeiting
- Multilingual reverse panel with 8 languages
- Watermark: (1) rayed star in square box, (2) rayed star in plain field (two types)
Issuing Circles and Universalized Issues
The first print of the 1917 1 Rupee note included issuing circles indicated by prefixes similar to uniface note systems: A = Cawnpore, B = Bombay, C = Calcutta, K = Karachi, L = Lahore, M = Madras, R = Rangoon. This circle system for 1 Rupee notes was abolished in November 1918. Afterward, universalized issues used prefixes D to S (skipping I, Q, and the earlier-used K, L, M, R) as well as X, Y, Z.
Language Panel Varieties
The reverse language panel included 8 languages: Urdu, Kaithi, Bangla, Burmese, Telugu, Tamil, Kannada, and Gujarati. There are two varieties: incorrect Gujarati (on prefixes A, B, C, K, L, M, R, D, E) and corrected Gujarati (D, E, F, G, H, J, X). Initially, the back of the note contained an error in the Gujarati text at the bottom of the language panel, which was subsequently corrected — one of the earliest well-documented linguistic inscription varieties on Indian paper money. For the broader story of how language panels evolved across British India and Republic India currency, see our article on Languages on Indian Notes.
Signature Varieties
Three signature varieties exist: M. M. S. Gubbay (found on issuing circle notes and early universalized notes), A. C. McWatters (on universalized notes with both watermark types), and H. Denning (on universalized notes with plain field watermark).
Watermark Varieties
Notes with a rayed star in a square box watermark were printed in the UK from 1917 to 1926. Notes with a rayed star in a plain field were printed in Nasik from 1928 onward.
Summary of Varieties and Prefixes
- Gubbay signature — three varieties all with the rayed star in square box watermark
- Issuing-circle notes, incorrect Gujarati, across Prefixes A (Cawnpore), B (Bombay), C (Calcutta), K (Karachi), L (Lahore), M (Madras), and R (Rangoon)
- Universalized notes, incorrect Gujarati — Prefix D, E
- Universalized notes, corrected Gujarati — Prefix D, E, F, G, H, J, X
- McWatters signature — two watermark varieties, both universalized and with corrected Gujarati:
- Rayed star in square box — Prefix N, O, P, X, Y, Z
- Rayed star in plain field — Prefix P, S
- Denning signature — one variety: rayed star in plain field, Prefix S
This 1917 1 Rupee note is also known with either a straight-cut or perforated left edge. These combinations create a wide range of collectible varieties, making this one of the most studied early Indian notes.
Historical Notes
Some notes were printed specifically for circulation in East Africa. In February 1918, the Bank of England was asked to produce additional 1 Rupee notes for the East African Government, and a total of 20 million notes were printed for this purpose, across the following serial ranges:
| Serial Range | Quantity (millions) |
|---|---|
| B/18: 500001–1000000 | 0.5 |
| B/19: 000001–1000000 | 1.0 |
| B/20: 000001–1000000 | 1.0 |
| B/21: 000001–1000000 | 1.0 |
| B/22: 000001–500000 | 0.5 |
| B/28: 000001–1000000 | 1.0 |
| B/29: 000001–1000000 | 1.0 |
| B/73: 000001–1000000 | 1.0 |
| B/74: 000001–1000000 | 1.0 |
| B/75: 000001–1000000 | 1.0 |
| B/76: 000001–1000000 | 1.0 |
| B/77: 000001–1000000 | 1.0 |
| B/78: 000001–1000000 | 1.0 |
| B/79: 000001–1000000 | 1.0 |
| B/80: 000001–1000000 | 1.0 |
| L/21: 000001–1000000 | 1.0 |
| L/22: 000001–1000000 | 1.0 |
| L/23: 000001–1000000 | 1.0 |
| L/24: 000001–1000000 | 1.0 |
| M/33: 000001–1000000 | 1.0 |
| M/34: 000001–600000 | 0.6 |
| M/35: 600001–1000000 | 0.4 |
| Total | 20.0 |
Separately, some 1917 1 Rupee notes (including examples from prefix M/9) were lost at sea when the S.S. Shirala was torpedoed in 1918. Booklet issues began in 1919, each booklet containing 25 notes with red covers bearing “GRI.” Booklets were issued from prefix B/24 onward, and all notes carrying prefixes X, Y, and Z were issued exclusively as booklet stock.
1935 British India 1 Rupee Note
The 1935 1 Rupee note retained King George V but introduced a more compact and refined design. This issue is catalogued as BNB B148 / Pick 14.
Design and Features
The 1935 1 Rupee note again featured King George V on the obverse of a 1-Rupee coin, in a circular frame, set within a more elaborate and refined design than the 1917 note. It featured detailed border patterns, a prominent language panel on the front listing 8 languages (Urdu, Kaithi, Bangla, Burmese, Telugu, Tamil, Kannada, and Gujarati), and text reading “Government of India” along with the denomination “One Rupee.” The note also carried the signature of the Controller of Currency, J. W. Kelly.
Notably, this is the only Indian banknote without a serial number on the front — instead, the serial number appears on the reverse side, alongside the reverse of the 1-Rupee coin, dated 1935. The note was smaller than the 1917 version, measuring only 92 × 55 mm.
Key Features:
- Front: King George V on the obverse of a 1-Rupee coin, in a circular frame
- Back: reverse of the 1-Rupee coin, dated 1935
- Serial number on reverse (unique feature)
- Two watermark types (portrait and stars)
Historical Context
Although these 1935 1 Rupee notes were printed in England in 1935 by three different printers, they were not initially shipped to India due to King George V’s death in 1936. However, much like the 1917 notes, global conflict again led to their use. During World War II, metal shortages prompted the release of about 250 million notes that had been stored in vaults in the UK, which were then shipped to India.
Additional 1935 1 Rupee notes were also printed at India Security Press in Nasik, with different prefixes and watermark types compared to those printed in England.
Watermark Varieties
Two watermark types exist:
- Portrait of King George V and “GOVT OF INDIA” (used on notes printed in England).
- Two five-pointed stars and “GOVT OF INDIA” pattern (used on notes printed in India at Nasik).
Summary of Varieties and Prefixes
Printed in England (Portrait watermark):
- Prefixes A & B — alphanumeric prefix in a single line without space (e.g., 01A), monoweight serial font; printed by Bank of England.
- Prefix C — alphanumeric with space in a single line (e.g., 01 C), thin serif serial font; printed by Waterlow & Sons.
- Prefix D — fractional prefix (number above, letter D below), serial numbers with commas; printed by Bradbury Wilkinson.
Printed in India (Stars watermark):
- Prefixes E & F — fractional prefix with letter above numeral, Indian-style serial font; printed at India Security Press, Nasik. Notes with these prefixes were printed with perforated left edges, meant to be torn from booklets containing 25 notes.
Notes with prefixes A through D were printed in the United Kingdom, with the differing serial number fonts and formatting above identifying each of the three printers. Booklet issues from this period had greenish covers bearing the GRI monogram. This four-printer, two-country production history makes the 1935 1 Rupee note an interesting issue to collect.
1940 British India 1 Rupee Note
The 1940 1 Rupee note, issued in 1944, featured King George VI and a more modern, simplified design. This issue is catalogued as BNB B151 / Pick 25. Its design development can be traced back to earlier work, including the well-known colour essay by T. Archer, which reflects the transition toward a new visual style in Indian banknotes.
Design and Features
The King George VI 1 Rupee note, issued in 1944, had a blue-gray color scheme. The obverse featured King George VI on the obverse of a 1-Rupee coin, in a circular frame, with “GOVERNMENT OF INDIA” at the top and “ONE RUPEE” prominently in the center. Notably, there was no promissory text, distinguishing it from earlier notes. The denomination “1” appeared clearly, and the serial number was on the front. The note carried the signature of C. E. Jones, Secretary, Finance Department.
The reverse displayed the reverse of the 1-Rupee coin, dated 1940, inscribed “ONE RUPEE INDIA 1940,” along with a language panel listing seven languages (excluding Burmese): Urdu, Kaithi, Bangla, Telugu, Tamil, Kannada, and Gujarati. The watermark featured King George VI, and the note was printed by India Security Press, Nasik. It measured 101 × 63 mm.
Key Features:
- Front: King George VI on the obverse of a 1-Rupee coin, in a circular frame
- Back: reverse of the 1-Rupee coin, dated 1940
- Blue-gray color scheme
- Watermark: King George VI portrait
- Issued by Government of India (not RBI)
Historical Context
Despite the formation of the Reserve Bank of India, this 1940 1 Rupee note was not issued by the RBI due to Section 24 of the Reserve Bank of India Act, which set the lowest denomination for RBI notes at 2 Rupees. Instead, it was issued by the Government of India and held the legal status of a coin rather than a typical currency note.
Continuing as a wartime measure to address metal shortages — a practice that began with the 1917 1 Rupee note — it remained necessary through the 1940s. This 1940 1 Rupee note was used during the final years of British rule, continued under the Dominion of India, and remained in circulation for a short period after the Republic of India was formed, before finally being withdrawn on 27 October 1957.
Serial Number Colors and Inset Varieties
The King George VI 1940 1 Rupee note is notable for its fascinating serial number color and inset varieties, marking a milestone in Indian banknote printing. There are four main varieties:
- Black serial number, no inset — Prefix A/0 to Z/99 (excluding I and O).
- Black serial number, Inset A — Prefix W/##.
- Green serial number, Inset A — Prefix A/0 to W/99 (excluding I and O).
- Red serial number, no inset — Known Prefixes D/90 to D/99 and E/0 to E/10.
The 1 rupee red serial number notes were Issued after independence as Dominion of India issues. The note represents the final stage in the evolution of the King George VI 1 Rupee note, following the earlier black and green serial number issues. Collectors researching 1940 1 Rupee note should note that this red serial number variety is scarcer than the earlier black and green issues.
The 1940 1 Rupee note was also the first Indian note to introduce inset letters — an important development in banknote design.
British India 1 Rupee Note Used in Burma
British India 1 Rupee currency notes were widely used in Burma under special legal provisions.
The Currency Act, 1940
Under Section 2 of the Currency Act, 1940 (Burma Act No. XVI of 1940) — enacted by the Governor of Burma on 13 September 1940 under powers conferred by Section 43 of the Government of Burma Act, 1935 — the 1 Rupee notes issued by the Government of India were declared legal tender in British Burma, holding the same value and standing as the silver “India rupee coin” as defined under the India and Burma (Burma Monetary Arrangements) Order, 1937.
Interestingly, the Act specifically provided that these notes were to be treated as “rupee coin” for the purposes of the Reserve Bank of India Act, 1934, while explicitly stating that the Government of India 1 Rupee note “shall be deemed not to be a currency note” for the purposes of that same Act — a deliberate legal distinction that kept the note classified as coinage rather than RBI-issued currency, even while circulating in Burma.
This legal-tender status meant both the 1935 1 Rupee note and the 1940 1 Rupee note could circulate in Burma. 1935-issue One Rupee notes are known bearing a Japanese occupation seal applied during this period.
Military Administration of Burma
After British forces regained Burma from Japanese control during WWII, the Reserve Bank of India reopened in Rangoon. The British Military Administration took charge of currency management. The 1940 1 Rupee notes were overprinted in red with the text “MILITARY ADMINISTRATION OF BURMA LEGAL TENDER IN BURMA ONLY.” This was formalized under Currency Proclamation No. 6 of 1945, which reintroduced the Burmese rupee and demonetized Japanese invasion currency.
This issue is catalogued as Burma BNB B503 / Pick 25, and two varieties exist:
- Black serial number, no inset letter — Prefixes T/99, U/0, U/1. Only around 3 million were printed, making it one of the rarest varieties.
- Green serial number with Inset A — Prefixes C/86–C/99, D/0–D/71, E/42–E/99, F/0–F/61.
As with all Burma overprints, notes with prefixes or serial numbers outside the official ranges listed above are forgeries.
Burma Currency Board
Following the Burma Currency and Coinage Act of 1946, the Burma Currency Board (BCB) was established in London on 31 March 1947, taking over currency management from the British Military Administration. There were leftover stocks of Indian 1 Rupee notes from the Military Administration period that had not been overprinted. The Burma Currency Board reused this stock and overprinted it in red with the text “BURMA CURRENCY BOARD LEGAL TENDER IN BURMA ONLY,” introduced in July 1947.
This issue is catalogued as Burma BNB B601 / Pick 30, with green serial number notes bearing Inset A found in Prefixes K/27–K/66 and Q/17–Q/36. As with the Military Administration overprints, examples of these Burma-overprinted British India 1 Rupee notes outside the official prefix and serial number ranges are forgeries.
British India 1 Rupee Note Used in Pakistan
After independence in 1947, Pakistan needed a quick solution for currency. Under the Pakistan (Monetary System and Reserve Bank) Order, 1947, Indian banknotes were modified for use in Pakistan. Instead of simple overprints, the phrase “GOVERNMENT OF PAKISTAN” and its Urdu equivalent, حکومت پاکستان (Hukumat-e-Pakistan), were lithographed directly into the printing plates — not overprinted — and placed at the upper and lower portions of the watermark area on the front only. Despite this Pakistan-specific inscription, the signatures on these notes remained those of Indian banking and finance officials, since the underlying note plates were unchanged British India King George VI stock.
These provisional Pakistan banknotes were issued from 1 April 1948 for exclusive use within Pakistan, with no possibility of redemption in India. The Reserve Bank of India ceased functioning in Pakistan as of 30 June 1948, though Indian notes without the Pakistan inscriptions continued to circulate there until 30 September 1948, after which they were withdrawn.
The Government of India 1 Rupee note featuring King George VI was issued for Pakistan with a green serial number and inset letter A. The additional inscriptions appeared in a greenish-gray shade, giving these Pakistan-adapted British India 1 Rupee notes a distinct look. These notes are known with prefixes Q/37–Q/99, R/0–R/6, R/76–R/99, and S/0–S/55. This issue is catalogued as Pakistan BNB B101 / Pick 1.
Catalog References of British India 1 Rupee Notes
Every British India 1 Rupee note discussed above is catalogued below by country of use, type, BNB number, and Pick number:
| Country | Type | BNB | Pick |
|---|---|---|---|
| India | King George V (1917) | India B135 | India P1 |
| India | King George V (1935) | India B148 | India P14 |
| India | King George VI (1940) | India B151 | India P25 |
| Burma | KGVI Military Administration of Burma overprint | Burma B503 | Burma P25 |
| Burma | KGVI Burma Currency Board overprint | Burma B601 | Burma P30 |
| Pakistan | KGVI Government of Pakistan issue | Burma B101 | Pakistan P1 |
Conclusion
The British India 1 Rupee note marks a major turning point in India’s monetary history, introduced during wartime necessity and evolving through multiple designs, signatures, and political transitions. From early King George V issues to King George VI notes with varied serial types, and from Burma overprints to Pakistan adaptations, these banknotes reflect a rich and complex numismatic legacy.
Today, British India 1 Rupee notes remain highly collectible, with value driven by rarity, condition, and variety. Whether you are a beginner or an advanced collector, understanding these notes offers valuable insight into the development of Indian paper money and the factors that influence its collectibility.
