Catalog
2 Rupees
| Issuer | Reserve Bank of India |
|---|---|
| Year | 1949-1962 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Log in to see details |
| Composition | Log in to see details |
| Size | Log in to see details |
| Shape | Log in to see details |
| Printer | Log in to see details |
| Designer(s) | Log in to see details |
| Engraver(s) | Log in to see details |
| In circulation to | Log in to see details |
| Reference(s) | P#29 |
| Obverse description | Printed in red-brown, violet, and green on paper with an Ashoka Pillar watermark, the obverse carries the Reserve Bank of India's promise-to-pay text in English above the corrected plural Hindi denomination inscription दो रुपये (DO ROOPAYE), a correction from the singular form used in the preceding issue. Denomination numerals appear in the corners against a fine guilloche underprint, with the Governor's signature below the central text panel. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | Log in to see details |
| Signature(s) | Rama Rau (1949-1957) Iengar (1957-1962) |
| Protection type | Log in to see details |
| Protection description | Log in to see details |
| Variants | Log in to see details |
| Comments |
This is the first 2 Rupee note issued under the Reserve Bank of India following independence, replacing the pre-independence series that still carried the King's portrait. The transition was politically charged — the government wanted a distinctly Indian face on its currency as quickly as possible, and the 2 Rupee denomination was among the first retooled for the new republic.
B. Rama Rau served as RBI Governor through a period of significant monetary stress, including the Korean War commodity boom and its inflationary aftermath. H.V.R. Iengar succeeded him in 1957 following Rama Rau's resignation — a resignation that came after a very public dispute with Finance Minister T.T. Krishnamachari over central bank independence.