100 Rupees - George V

Pick 10 falls within the early Nashik production period, shortly after the India Security Press took over rupee printing from Thomas De La Rue in London. The transfer of high-denomination printing to an in-country facility was a deliberate administrative decision by the Government of India, driven partly by cost and partly by the logistics of shipping finished currency during a period when colonial financial infrastructure was being rationalized. Early Nashik output on this series is sometimes found with inconsistent ink distribution, a known characteristic of the press's calibration in its first years of operation.

The 1927 date places this note well before the Reserve Bank of India Act of 1934, meaning it was issued as a direct Government obligation rather than through a central bank.