Hyderabad: The first series of paper currency introduced during the rule of Nizam VII Mir Osman Ali Khan were printed in London.
The currency notes of one five, 10, 100 and 1,000 rupee denominations were widely appreciated for their design and quality of paper, said Mr Amarbir Singh, an eminent numismatic. “The need for having paper currency was felt as there was a shortage of metal after World War I,” he said during a lecture here.
The notes had Islamic resemblance without any pictures of animals, plants or buildings and contained four languages — Urdu, English, Kannada and Telugu.
“The Nizam ensured that they were without any signature of the finance committee member. Only when they landed in the Hyderabad did they gain complete form,” Mr Singh said. The second series of notes, smaller in size, were introduced in the 1930s and printed at the Government Printing Press at Malakpet.
The regular coinage of Hyderabad in large circulation was the one rupee coin, the Osmania ‘Sicca’. The one rupee note was unpopular, and people were put off by its black colour.
The coins till the police action were in the pattern of Moghal coinage before it was changed in 1858.
Hyderabad had a mechanised mint at Saifabad where gold silver and copper coins were printed.
The highest coin for public circulation was silver one rupee.
