20 Rupias

The Junta da Fazenda Pública — the Public Treasury Board — issued notes for Portuguese India from Goa, functioning as a colonial fiscal authority rather than a conventional bank of issue. By 1882, paper currency in this territory had a troubled reputation; earlier emissions had suffered from counterfeiting and irregular redemption, and public confidence in locally issued notes remained fragile throughout the nineteenth century.

The Pick A3 designation signals an early and scarce type. Surviving examples are genuinely rare, partly because the Junta's emissions were short-lived and partly because Portuguese Indian notes of this period were rarely preserved — they circulated hard in a humid coastal climate that was unkind to paper.