Search This Blog

Loading...

Thursday, 27 October 2011

Did you Know Series (7): 100 Rupee Notes ; Classification and Valuation


Did you Know Series (7): 100 Rupee Notes ; Classification and Valuation/Historical Reference:


1)      The first hundred rupee notes were issued in Independent India in January 1950 under the signatures of RBI Governor Sir B.Rama Rau (Tenure: 01.07.1949 – 14.01.1957).

The front of the Note had the details written only in English with a water-mark window on the left side and Ashoka Pillar (the symbol of Sovereignty of the Government of India) on the right side. Later issues during his tenure had a bilingual front side (Hindi and English) and seven (7) other Regional Languages which had earlier figured on the back of the Notes.

The reverse design had a pair of adult elephants in a clearing having a sugarcane field and a forest in the background. (Later designs showed the forest design slightly altered to showing a bamboo grove and Lotus pond). Initially, the number of Regional languages depicted on the back of the Note were three (3) to the left and (3) to the right with Hindi and Urdu in the centre apart from English.

2)      While minor changes were incorporated on the front side during the tenure of H.V.R.Iyengar (RBI Governor 01.03.1957- 28.02.1962), a design change took place in December 1960, on the reverse when the Hirakud Dam & Hydro-electric Station replaced the earlier elephant and forest/bamboo grove design. The number of Regional languages was raised to 13 apart from Hindi (official language of India) and English (subsidiary/additional official language of India). This design continued with minor variations during the tenure of the next RBI Governor P.C.Bhattacharya (01.03.1962-30.06.1967).
The images of the undernoted three notes have been contributed by my sister Raka, for this post .





The above design for the 100 rupee notes was released on 26.12.1960 during the tenure of HVR Iyengar (RBI Governor from 01.03.1957 to 28.02.1962). The size of this note is 109x172 mm. There are various colours on this note, the predominant one being Lavender. The prefix (AA/69 on this specimen) is placed in double lines and mentioned in red colour on the top left hand corner and diagonally opposite on the bottom right hand corner. There is a circular “100” numeral on both sides, on one side flanked by “Rs” in English and on the other by “Ru” in Hindi. The numerals “100” and “RBI” on either side of the Governor’s signature are in intaglio (incised/raised design). There is a floral design around the signature and around the words displayed prominently “ONE HUNDRED RUPEES” in English and “EK SAU RUPIYE” in Hindi.




On the back, there are thirteen Regional languages along with an image of the Hirakud Dam and Hydro-Electric station. On the left and right side of the Note are the words “ONE HUNDRED RUPEES” and the numeral “Rs.100”, while the words “Ek Sau Rupiye” appear on the top right hand side of the Note. In the bottom centre is the RBI logo with floral designs.

 The tear in the water-mark window (two holes which look like the masked eyes of a bandit) is on account of stapling marks which were used to stitch the note packets together, till RBI introduced the policy that that there will be no stitching or stapling of Notes in the early 2000s. (I remember that I was working in the State Bank of India’s Banking Operations Department at the Corporate Centre, Mumbai, at the material time and all the bundles of currency notes had to be unstapled, which were kept in the currency chests managed by the SBI within a time frame stipulated by RBI, which was a herculean task).

 The value of a similar 100 rupee note from this period in mint condition would be around Rs.4500/- to Rs.7000/- .




The above is an image of a similar design note as the one whose image is given before, except that it was issued during the tenure of P.C. Bhattacharya (RBI Governor from 01.03.1962 to 30.06.1967) , who succeeded Mr. Iyengar .




The back of the above note exhibiting similar features, as the image of the back of the Note given before this Note’s images, exhibiting the Hirakud Dam and Hydro-Electric station.

 The value of this Note in mint condition would be around Rs.Rs.4500/- to about Rs.5000/- .


 This design released on 17.04.1967 has a large ornamental numeral “100” in the centre, above which is a bold “ONE HUNDRED RUPEES” in English. On the top left hand corner is the numeral “100” flanked on either side by “Rs.” in English and “Ru” in Hindi. On the bottom right hand side is the value of the Note mentioned in Hindi “Ek Sau Rupiye”. The double prefixed serial number of the Note is mentioned on the top right hand side and bottom left hand side.



 The back of the above note is similar to the Note images given above, exhibiting the Hirakud Dam and Hydro-Electric station.

The value of this Note would be about Rs.1500/- to Rs.2500/-.
3)      During the time of L.K.Jha (RBI Governor 01.07.1957-03.05.1970) a portrait of Mahatma Gandhi graced the back of the hundred rupee note. This new design was released on 2nd October 1969, when India was celebrating the Birth Centenary of Mahatma Gandhi. A slightly differently coloured note but with the same design and format was issued during the tenure of B.N.Adarkar (RBI Governor (04.05.1970-15.06.1970).

4)      Later during the tenure of S.Jagannathan (RBI Governor 16.06.1970 -19.05.1975) a new design 100 rupee note was released on 26th March 1975 , where the 13 Regional Languages which were hitherto being shown on the back panel moved to the front side and were placed right next to the water-mark window. The reverse design portrayed Agricultural work in progress, with ears of wheat , Bhakra Dam, two women plucking tea leaves , 3 women planting paddy and a farmer driving a tractor in a field facilitated by mechanized equipment.

5)      The words “Satyameva Jayate” appeared below the Lion Capital for the first time during the tenure of R.N.Malhotra (RBI Governor 04.02.1985-22.12.1990).

6)      The next design change took place during the tenure of Dr.C.Rangarajan (RBI Governor 22.12.1992 – 22.11.1997). A large portrait of Mahatma Gandhi appeared on the right hand side of the front panel and his name was spelt out – “M.K.Gandhi”. Later designs switched his name with “Mahatma Gandhi” which is continuing till the present day.  A few floral motifs and graphic designs were included and the Lion capital symbol with the words “Satyameva Jayate” moved to the bottom – left side of the watermark window. On the back side, a panorama of the glorious Himalayan Ranges/mountains replaced the earlier design. The number of Regional languages depicted on the panel rose to fifteen (15). This design scheme both front and back is still found on your present day 100 rupee notes.


Present day 100 rupee notes in circulation :


The above is a 100 Rupee Note issued under Dr. Bimal Jalan’s signature (RBI Governor 22.11.1997 to 06.09.2003). If you will look at the serial number of the Note ‘2UK’ is the Prefix, the serial No. is ‘792524’. There is the  letter “F”of the alphabet mentioned in the background of the serial number.  Hence, this note is said to have been issued with an “F” Inset.


The back of the above Note has no year of issue mentioned on it, (year of issue was mentioned on the back of 100 rupee  currency Notes from 2005 onwards).


The above is a 100 Rupee Note issued under Dr. Jalan’s signature with an “L” inset.



The back of the above Note shows no year of issue mentioned on it and looks exactly the same as the back of the “F” Inset note shown above.




The above is an image of a 100 Rupee Note issued under Dr. Jalan’s signature with a “B” Inset.


The back of the above Note showing no year of issue mentioned on it and looks exactly the same as the back of the “F” Inset note shown above.


The above is an image of a 100 Rupee Note issued under Dr. Jalan’s signature with a “R” Inset.



The back of the above Note showing no year of issue mentioned on it and looks exactly the same as the back of the “F” Inset note shown above.

From the above examples, it is clear that as Dr. Jalan’s tenure as RBI Governor ended in September 2003, none of the 100 Rupee Notes issued under his signature bear the year of issue on the back.

100 rupee Notes were also issued under Dr. Jalan’s tenure with “Plain Inset” and “E” Inset.

Notes issued under Dr. Jalan’s signatures in mint fresh condition are valued by Collectors at anywhere between Rs.250/- to Rs.350/- (for the later issues and Rs.300/- to Rs.500/- (for the earlier issues).


The following Notes were issued under the signatures of Dr.Y.V.Reddy (RBI Governor from 06.09.2003 to 05.09.2008)


The above is an image of a 100 Rupee Note issued under Dr. Reddy’s signature with an “E” Inset in 2005.


The back of the above Note showing 2005 (below the image of the Himalayan Ranges) as the  year of issue mentioned on it.

The above is an image of a 100 Rupee Note issued under Dr. Reddy’s signature with an “E” Inset in 2007.


The back of the above Note showing 2007 (below the image of the Himalayan Ranges) as the  year of issue mentioned on it.

The above is an image of a 100 Rupee Note issued under Dr. Reddy’s signature with an “E” Inset in 2008.



The back of the above Note showing 2008 (below the image of the Himalayan Ranges) as the  year of issue mentioned on it.
(“E” Inset 100 rupee notes were also issued in 2006).


The above is an image of a 100 Rupee Note issued under Dr. Reddy’s signature with “Plain Inset” during the early part of his tenure.


The back of the above Note showing no year of issue mentioned on it.

An image of a 100 Rupee Note issued under Dr. Reddy’s signature with “Plain Inset” during 2007.

The back of this  Note with a “Plain Inset” shows the year of issue as 2007 mentioned on it.

An image of a 100 Rupee Note issued under Dr. Reddy’s signature with “Plain Inset” during 2008.

The back of this  Note with a “Plain Inset” shows the year of issue as 2008 mentioned on it.
(Plain Inset 100 Rupee Notes were also issued in 2005 and 2006 during Dr. Reddy’s tenure).

  
The above is an image of a 100 Rupee Note issued under Dr. Reddy’s signature with “R” Inset issued during 2006.


The back of the above Note showing 2006 as the year of issue, below the Himalayan Ranges image.

(100 rupee Notes with “R” Inset were also issued in 2005 and 2007 and with no year mentioned on the back, during the early part of Dr. Reddy’s tenure.


The front of a 100 rupee Note issued with Dr. Reddy’s signature with an “A” Inset in 2008.


The back of the above Note showing the year of issue as 2008. ( “A” Inset Notes were issued in 2008 only during Dr. Reddy’s tenure).

 

The above image is of a Rs.100/- Note issued under Dr. Reddy’s signature with an “L” Inset in 2008.
The back of the above Note showing 2007 as the year of issue.

(100 Rupee Notes with “L” Inset were also issued during the early part of Dr. Reddy’s tenure with no year mentioned on the back, or with 2005,2006 and 2008 mentioned on the back).

During 2003 and 2004 , 100 rupee Notes were also issued under Dr. Reddy’s signature with “F” and “G” Insets ( with no year mentioned on the back)  and with “S” Inset during 2008 before the end of his tenure.


The Front and Back of a 100 Rupee Note with "S" Inset issued during 2008 during Dr. Reddy's tenure.

The value of the Notes issued during Dr. Reddy’s tenure is about Rs.150/- to Rs.250/- for mint fresh notes for the later years and Rs. 300/- to Rs.400/- for the earlier issues in mint fresh condition.
The following Notes were issued under the signatures of Dr.D.Subbarao (RBI Governor from 05.09.2008 to Present Day).


An image of a 100 Rupee Note issued under Dr. D.Subbarao’s signature with “Plain Inset” during 2009.


An image of the back of the above Note, showing the year of issue as 2009 below the picture of the Himalayan Ranges.


An image of a 100 Rupee Note issued under Dr. D.Subbarao’s signature with “Plain Inset” during 2010.


The back of the above Note showing the year of issue as 2010.


An image of a 100 Rupee Note issued under Dr. D.Subbarao’s signature with “Plain Inset” during 2011.


The back of the above Note showing the year of issue as 2011.

(Notes with Plain Inset were also issued in 2008 during Dr. Subbarao’s tenure).



The front and back of a 100 rupee note issued with "L" Inset during 2011 under Dr. Subbarao,s signature during 2011.


An image of a 100 Rupee Note issued under Dr. D.Subbarao’s signature with “R” Inset during 2011.


The back of the above Note showing the year of issue as 2011.

(“R” Inset notes were also issued during 2009 and 2010 during Dr. Subbarao’s tenure so far).

An image of a 100 Rupee Note issued under Dr. D.Subbarao’s signature with “F” Inset during 2009.


The back of the above Note showing the year of issue as 2009.


An image of a 100 Rupee Note issued under Dr. D.Subbarao’s signature with “F” Inset during 2010.


The back of the above Note showing the year of issue as 2010.


The above are images of a 100 Rupee note issued with "G" Inset during 2011 during Dr. Subbarao's tenure without the rupee stmbol. This is only the second time during its entire history of printing that a "G" Inset has been used on a 100-Rupee Note.

The value of all these Notes for collectors is about Rs.150/- to Rs. 200/- for the earlier issues during Dr. Subbarao’s tenure progressively becoming lesser for the later issues.


Recently, the Reserve Bank of India in its periodical design changes has introduced new Currency Notes in the denominations of Rs.1000/-, Rs.500/-, Rs.100/-, Rs.50/-, Rs.20/- and Rs.10/-. The Old design on the currently circulating Mahatma Gandhi  Notes has been retained in the new series, but the new “Rupee symbol” has been introduced in two places on the front side just before the denomination of the currency note as well as , before two denomination numerals on the top of the back of the Notes.

 I happened to acquire two five hundred notes with the rupee symbol and ten one hundred rupee notes from a Bank ATM near my residence on the 01.01.2012 which had placed these new design notes in their ATM as a “New Year’s Gift” to customers. I happened to be the first one to receive these notes. Later on, while passing through the same area, I saw that the ATM withdrawal line had really built up to a serpentine queue and the ATM cash was being reloaded which meant that the message to collect the new design notes had spread fast!!

Also, I acquired two ten rupee Notes from a provision shop which had no idea that the ‘00E” prefix meant that these were the very first issues. The Rs.500/- note has an ”8AD” prefix while the  Rs.100/- note has an “1AK” prefix which means that these notes are one of the first few issues as well.

                      


                       
The above images are that of a 100-rupee Note issued in 2011 under Dr.Subbarao's signature, with an "R" Inset in its serial number.
The following are the Front and back of a rupee symbol 100-rupee Note issued in 2012. Notice that the year 2012 is mentioned at the back of the second image , just below the picture of the Himalayan Ranges and the Note carries the Rupee symbol just before the numerals "100".
                                                                                    
The undernoted image is of a Rs.100/- note issued in 2012 with an "F" Inset. Notice that the Rupee symbol has not been included in this issue. The Note bears the signatures of D. Subbarao, the present RBI Governor.
      



 The back of the above note showing the year of issue as 2012, below the picture of the Himalayan Ranges. Thus, we can easily see that both Series of Notes i.e. with the Rupee symbol and without are being issued at present.  


The above  image is of a Rs.100/- note issued in 2012 with an "G" Inset, but withour the Rupee symbol.



Given below are images of the Front of Rs 100 notes issued in 2013, with a Plain Inset, "L" Inset and "R" Inset, all issued with the Rupee symbol.






Given below is a representative example of the Back of the above 3 Notes, showing the year of issue as 2013:

Star series Notes:
Whenever defective notes are printed, particularly from Rs.10/- to Rs.100/- denominations, the Security Printing Presses have adopted a “Star” series numbering system for replacement of these defectively printed Notes. 

The numbering on the replacement Notes is exactly like the normally printed ones, but have an additional feature i.e. a “STAR” (*) is added in the serial number in the space between the prefix and the number. 

The main significance of these notes, besides the “STAR” is that, although, these notes would be issued in packets of 100 each, these bank notes would not be serially numbered

To enable easy identification, the bands on these packets will clearly indicate that the packet contains star-series banknotes. The notation on the band of such note packets normally is “contains non-serially numbered notes with * in the number panel”, both in Hindi and English.

The above is an image of a ten rupee note containing a “star” * in the number panel, issued in 2010 with an “M” Inset, collected for me from general circulation by Krishna Tonpe.
The value of such notes in mint condition increases substantially from say, about 7-10 times the face value, to about a few thousands of rupees , depending on its value for collectors and the serial number it contains/ Inset etc.


The above is an image of a hundred rupee note containing a “star” * in the number panel, issued in 2011 with an “L” Inset collected by me through general circulation from a Provision store.

Posted on 26.02.2014:
I was pleasantly surprised to receive the undernoted Rs.100/- Star Series Banknote in almost uncirculated condition from a Shopping Mall today!!

 This Banknote too has an "L" Inset, however this has been issued in 2013. This is one of the last few * "Star" series banknotes issued under the signature of RBI Governor D. Suubarao who has relinquished office in late 2013.



Posted on 04.09.2013

An Error Note:



The above is the image of an error Rs.100/- Banknote, sent to me by Dhruv Kumar Seth, a collector from Lucknow. This Note is issued with a "P" Inset during the tenure of RBI Governor Bimal Jalan. Notice that only the F Inset is printed on the top right hand corner of the Note and only the numeral "4" appears, whereas the prefix as well as the Serial number is missing. An error Banknote like this in Mint condition would be worth several times more than its face value.

Posted on 23.01.2014:

Reserve Bank of India has now decided to withdraw all currency notes issued prior to 2005, without specifically mentioning that these Banknotes will cease to be legal tender. From April 2014 all Banks will accept and exchange pre-2005 Banknotes. These Banknotes are easily identified by the absence of the year of printing on the Back of the Note. RBI estimates that the maximum number of fake currency Banknotes are from the period prior to 2005. From 01.07.2014, to exchange more than 10 pieces of Rs.500/- and Rs.1000/- banknotes, non-customers will have to furnish identity and address proof to the Bank Branch.  However, it is expected that later on RBI will issue a communication advising users the final date upto which Banknotes prior to 2005 will be accepted by the Bank. 


Therefore, please start examining the year of issue"at the back of the currency Notes passing through your hands, so as not to face the inconvenience of going to a Bank Branch for returning the currency issued prior to 2005.


While this is a welcome step, RBI needs to have a policy in place to take the remaining counterfeit Banknotes issued after 2005, like changing/revamping the Front and Back designs, adding more effective security features etc. so as not to put users at risk of accepting counterfeit currency Banknotes.


Posted on 03.03.2014:   

   The Reserve Bank of India has extended the date for exchanging the pre-2005 banknotes to January 01, 2015. It has also advised banks to facilitate the exchange of these notes for full value and without causing any inconvenience whatsoever to the public.
   RBI has further clarified that the public can continue to freely use these notes for any transaction and can unhesitatingly receive these notes in payment, as all such notes continue to remain legal tender till that date.

Posted on 26.05.14: 

 After a long wait, I have acquired three 100 Rupee Notes signed by the present RBI Governor Raghuram G. Rajan, thanks to my friend Jayant who got them from an ATM only yesterday. What makes this "acquisition" more interesting is the fact that it is my first 100 Rupee Note which has been issued in 2014.
The Front of the Rs.100/- Banknote signed by Raguram G. Rajan issued in 2014 with an "L" inset.
The Back of the above Banknote showing the year of issue as 2014.

Posted on 31.07.14:

I got the following Banknote from an ATM today signed by RBI Governor Rajan issued with an "E" Inset:

The Front of the Rs.100/- Banknote signed by Raguram G. Rajan issued in 2014 with an "E" Inset.

 The Back of the above Banknote showing the year of issue as 2014.

Posted on 21.09.14:
I collected the following Banknote from an ATM today signed by RBI Governor Rajan issued with a "Plain" Inset:
 The Front of the Rs.100/- Banknote signed by Raguram G. Rajan issued in 2014 with a "Plain" Inset.
 The Back of the above Banknote showing the year of issue as 2014.

 


Links to other Posts on Indian Currency Notes on this Blog:

1)Did-you-know-series-1: Assists for identification of Currency Notes by visually challenged users. 

2)Did-you-know-series-2-What-is-design-or focus of the picture on the back of Currency Notes in circulation in India

3)Classification and Valuation of Rs.1000/- Notes 

4)Classification and Valuation of Rs.500/- Notes 

5)Classification and Valuation of Rs.50/- Notes 

6)Classification and Valuation of Rs.20/- Notes 

7)Classification and Valuation of Rs.10/- Notes 

8)Classification and Valuation of Rs.5/- Notes 

9)Did you Know Series (18): Are you carrying a Fake Rs.500/- Banknote in your purse/wallet: A comprehensive study






16 comments:

  1. A very detailed and informative post, good work!

    ReplyDelete
  2. i have a 100 rs note of hvr sign on it plz tell me the value..

    ReplyDelete
  3. mail me the details at amansinghtsk007@gmail.com

    ReplyDelete
  4. Hi Aman, I have sent a reply today to your email address. I hope you find it useful.

    ReplyDelete
  5. Hi I m having an 100 Rs note containing a “star” * in the number panel, issued in 2011 with an “L” Inset.. Pls share the value .. kamal_del_in2000@yahoo.com

    ReplyDelete
  6. Hi Kamal,
    I have sent you a message today on your given email address. I hope you find it useful.

    ReplyDelete
  7. the 100 rs note of hvr sign i wnt to sell it.. where to sell it n at wht price or should i wait for fetching some good money for it...!!

    ReplyDelete
  8. Hello Aman, Banknotes can be purchased or sold at Currency dealers outlets or currency exhibitions like the ones which are held in Pune almost every month or on auction sites like ebay. The timing can never be matched to perfection like the "stock market" and depends on the availability of a particular type of currency note as well as the "buyers" requirement of a particular issue for his collection. So you will have to go by your own judgment. Of, course, the older a mint condition Banknote gets, the more it is likely to gain in value.

    ReplyDelete
  9. What's up everyone, it's my first go to see at this
    web page, and article is really fruitful designed for me, keep up posting these posts.


    my homepage; marathon runner bracelet

    ReplyDelete
  10. you mentioned "Notes issued under Dr. Jalan’s signatures in mint fresh condition are valued by Collectors at anywhere between Rs.250/- to Rs.350/- (for the later issues and Rs.300/- to Rs.500/- (for the earlier issues)." Since these are still valid notes and available in plenty, why do collectors pay more..what is the significance/value?

    ReplyDelete
  11. Hello Anonymous,
    Every year Banknotes are brought out under different Serial numbers. First with a Plain Inset, then with several Insets say "A", "N", "L" "S" etc. Once the Serial number runs its course, then this Serial number under this Inset will never be printed again. As time passes by, most of these notes get circulated and worn out with use, however, some mint condition Notes remain in the possession of users and these acquire value for collectors, akin to vintage cars, and more so, if a number of RBI Governors has changed. Shortly, the demonetisation of currency issued prior to 2005, i.e. the year after which the printing year is mentioned will bring out many unused Banknotes, which collectors will take into possession with a lot of interest - the best part being all acquired at face value. Not only will these help build up collections, but they will all acquire value over time.

    ReplyDelete
  12. Thanks very much for the insight. Due to the demonetisation of pre-2005 curreny, i have also started using the unused notes. But reading your inputs made me keep them. At the minimum price of Rs.250 apiece in mint fresh condition, it is worth more to give to collectors. Thanks once again for the informative website.

    ReplyDelete
  13. I have a collection of mint fresh notes of Dr.Jalan, for sale

    ReplyDelete
    Replies
    1. Hello Krishna,
      Please mention your email address and/or mobile number, so that interested collectors may get in touch with you.

      Delete