India's 1st DeMon, 100 years ago in Nizam's Hyd

The year 2020 marks the centenary of India's first demonetisation of paper currency. It was in 1920 that the Nizam government in Hyderabad had withdrawn Rupee 1 paper currency from circulation. The Nizam had introduced Rs 10 and Rs 100 paper currency in 1918 and Rupee 1 in 1919 as there was severe shortage of metal particularly silver in view of the World War I.

from Times of India https://ift.tt/2vBhxYK