Hyderabad, May 30 -- The recent decision by the Reserve Bank of India (RBI) to withdraw the Rs 2000 denomination notes, which were introduced after the 2016 demonetisation, has sparked discussions about the highest denomination ever used in India.

Contrary to popular belief that the Rs. 2000 note is the highest denomination ever used in India, it is worth noting that the country has also seen the existence of a Rs. 10000 note.

Paper currency was first issued in late eighteenth century

The issuance of paper currency in India dates back to the late eighteenth century. The Victoria Portrait Series introduced denominations of 10, 20, 50, and 100 rupees, marking the initial phase of Indian paper currency. In the series, Rs. 100 was the high...