100 Rupees

P#86 spans two decades and multiple governors, which is why signatures are the primary variable collectors track within this series. The note circulated through a period of significant monetary pressure in India — the 1991 balance-of-payments crisis forced the government to pledge gold reserves to the Bank of England and the Union Bank of Switzerland, yet the physical currency itself was never formally recalled or redesigned in response.

Known to develop foxing and ink bleed on heavily circulated examples, particularly notes from the late 1980s issues stored in humid conditions. The lion capital watermark common to Indian notes of this period is often faint on this denomination.