10 Rupees

Pick 88 spans two governorships — S. Venkitaramanan (1990–1992) and C. Rangarajan (1992–1997) — and the progression of plate letters A through E under Rangarajan reflects the sheer print volume the RBI was managing during a period of significant economic liberalization following the 1991 balance-of-payments crisis. The without-plate-letter and plate-letter-A variants under Venkitaramanan are the earlier and generally scarcer printings.

Collectors should note that plate letter attribution on this series requires careful examination — the letter appears in the lower left of the serial number panel and is frequently faded on circulated examples.